The ability to pay out this dividends makes me realize that one thing I don't like about their new agreement with Teck - the final $20 million payment is only due when the mine is completed. However, since we have no plans to be around at the point it seems like we will never benefit from the $20 million. I think the agreement should have made so that we received the whole $40 million when Teck makes decision to go ahead with the mine. Or even, $30 million and $30 million. This would have allowed to receive an even bigger payout.

But this is a fairly minor point. I do like that the new agreement has taken much of our risk away but Teck paying for future exploration. I also like that company is taking steps to reduce the corporate expenses.

It is also nice to see the spot price of copper going up over the past few weeks.

In view of all these, I added some shares yesterday at $0.51 as I figured I had a 5% downside protection (due to the dividend) - and at 0.51 - 0.0275 = 48.25 which is below our 52 week low.