The individual on BNN stated $139/Oz of Reserves not M&I.

(5.8 million rather 10.7 million)

So let us cut your .99/share by half for now. The benefit in our case is, I think Schaft Creek will get more money per OZ because the mine is located in Canada not Africa. Then all the upgrades, inferred category, exploration potential, etc and the value is still huge! The end result whether it takes 1 year or 3 years, with their EAC approved by the government and economic revisions shown I value our portion of the mine in an asset sale at $1.2-1.8 billion. I am also using the 5% discount rate because Schaft Creek will 100% be a producing mine and Elmer looks at the ROV method not the base case that all irrational people use to put a value on the deposit.

Canada needs Schaft Creek to be in production for many reasons, as the revenue and employment opportunities it will offer the country is too lucrative to ignore. The NTL line was not placed there for no reason, that is 1 clue the government hinted at for its future plans regarding the mineral rich area. The government will need other mines to be in operation to re-pay the debt the NTL has created for taxpayers. Red Chris will not be the only mine that will be approved for production. Common sense really. Again, Copper Fox should wait for permits before selling as this will give them increased leverage in bargaining with other majors. I think permits are closer than what the market believes because we are being evaluated under the old "former act" which means an announcement could come soon regarding the permitting status or approval to proceed to production. We have been under review since 2010 so I think the government is waiting for the EAA to be officially submitted, then a positive decision will come soon after. The Minister of the environment knows the project well based off all the information she has provided me. Since the government has been dealing with this project for many years they can make a decision quickly as they are familiar with us and the project. Teck having received an environmental award and a sound reputation in Canada helps our cause with them being the proponent and associated with Schaft Creek. With great relations with first nations, our odds look unbeatable.