If Teck buys us out, it will back in for 75%, leaving us with 23% (the part we will be selling them). If we got $1.50/share, 1.50 x 400 million shares = $600 million for our 23%. If we extrapolate the 100% value from the 23% for 600 million we get the property value of about 2.5 billion. Isn't that one of the more optomistic valuations in the FS?

If we got $5/share the valuation for the property would be $8.7 billion ( $12 billion at $7/share). That is how I come up with my reality. Please, if I am calculating something wrong - I would love to be corrected.

1. CUU owns SC 100%.

2. IF Teck backs in 75%, what is the 23% would be worth? Keep in mind that the 23% is now including 4 year clause, financing value etc. How much money will it take for ppl at CUU to rather take a lump sum now instead of streams of cash every year from SC?

3. $5 a share is totaled to $2 billion. Plus Teck's Back In of $300 million. They are paying FOR THE ENTIRE SCHAFT CREEK a total of $2.3 billion.

4. Just because they can back in for a lesser amount doesn't mean CUU can whore out and sell themselves short.