I have no doubt in my mind that metals will rebound substantially. I don't think this will happen in the near term. I'm thinking late 2016 or even 2017, but it will happen.
We have enough cash to wait for that eventuality. Teck knows that, and I doubt very highly they're positioning themselves to try to "starve" us out.

I also think the "experts" have no clue generally with respect to forecasting copper surplus and shortages. Look how much they've changed their tune now for forecasting next year - if I remember last time I read it had shifted from a surplus of 200 or 300 thousand tonnes to a deficit of around 100 thousand tonnes. They can't even forecast the demand for 2014, and were in November! In any case, I see the world economy ramping up, production of cars, construction, etc., and I don't think in the longer term (2-3 years) it would be surpring to see copper consistently well above $4. I also agree with other posters that NPV may not be the best way to estimate our worth.