He wasn't speaking about a premuim on share price but on resource. Copper Fox Share price is not part of the discussion the Schaft Creek deposit resource, size and worth is.

Here's what I heard except the one crucial word right after the 30% and before the 60%. I'm not sure I got it right.

Things are expensive although people think that now is a great time to buy because everybody’s share prices are down, you know, intuitively that makes sense, but when you find the entity that you’re really interested in, if it’s something that’s good, it’s usually got three or four major shareholders that have a significant portion of the ownership of the particular entity and they tend to want, you know, instead of the normal 30% premium that you get with a commodity price they want 60-70-80% premiums and therefore the economics of the transaction, you know, we can’t make it work.

When he speaks about the return against the weighted cost of capital, that is what indicates what Teck would be willing to pay for Schaft Creek.

What section is this, what time?