Sorry, what i meant in saying Teck is paying is that they are financing on our behalf.

Imagine that these two equity firms having to put money out to get this mine finished and into production. They are willing to pay $x amount.

Then you see an asset like SC, where hey...if I pay $x amount for the share in this JV with Teck. I don't have to bring in a single dime to get this mine finished and into production.

This should give a premium value on SC because as part of our JV, Teck will arrange the financing for us.

You're right about the de-risking. We are much riskier at the moment so that sorta counters back our price premium. That being said, once we get our EA, and production decision, our risk becomes less and less...that should give SC a premium pricing.