The issue is that Elmer has stressed about the ROV calculations especially for long lifetime mines.

He used Teck's Highland scenario, what is the value of it today?

If you use a NPV valuation, it would be zero, but is it? Highland Valley is a big cash cow to Teck today.

It's because when you start calculating NPV, you're going so far into the future that it's not going to worth a lot at present value. And it doesn't make sense because, when you invest into something like SC you'll be getting returns for the minimum next 21 years and even more.