I forgot to even add to this. Has anyone done a present value of cash flows for CUU share in the JV?

$75 million in the first 5 years then $113 million per year for the next 16.

Do it at 5% and 8% interest.

See what figures you get. BTW, zero money down from CUU as it'll be financed by Teck and paid for by SC in the first 5 years.

http://www.calculatorsoup.com/calculators/financial/present-value-cash-flows-calculator.php

We should get improvements as well through exchange rates, recoveries, and pit plans. $113 is supposely the low end of cash flows.