I have been scratching my head on valuation because it is not a straight forward calculation.

Everything changes for the better with the Inferred calculated as resource. It is more of a curve then a straight line and it is impossible to calculate without modelling due to the variable of time.

It effects, strip ratio, payback period, Initial rate of return (all because of the time and effort required to mine and haul waste verses mining and hauling ore).

The 25.17 tonne number becomes invalid as that cost wiill go down with less waste (I don't know how much). It changes everything.

CUU share price is getting crushed right now because the only number anyone can find to put a value on the pit is far lower then anyone expected. It was a scary surprise in a frightened market, not a very winning combination.

So now we retail investors are sitting here trying to come up with a number that we can't fathom, and we are likley going to languish like this until Teck makes a determination. Teck can and will do the calculation, then they will look at our share price and offer us a 60% premium (or some such thing). They will not give us anything, nor should they. On the flip side, we don't need to take their offer if it is too low. The Chinese would love to own, and pay dearly for, a copper producer like Schaft Creek.

Don't trust to hope. The maket is irrational and merciless. CUU could still be a $6.00 stock but if institutional investors get frightened the way retail did, it could travel to .40 as well.

Hopefully the bottom is hit now as time is our friend. Every day the project gets closer to production, every day the project becomes more valuable not less.