Current NPV works out to 86 cents per CUU share; we are at 15 cents and all optimization studies still to come.

Are we way undervalued? Do you own due dilligence and decide for yourself....

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Sure, we are undervalued - I never said we were not?

With a production decision we should jump up to around that 86 cents figure (plus whatever optimization benefits Teck wants to disclose to us). Our value is trapped until that time, it is the lack of a production decision that is holding our price where it sits.

The clarification I was talking about was more in reference to your earlier post:

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Slide 15 implies about a $ 2.5 billion improvement in NPV unless there is a mistake.

There is no mistake, I think you are just reading the chart wrong; don't worry, it could happen to anyone, including myself. And here is why:

If you look at the chart on page 15, the base case (the point where all lines intersect) does not line up on the left vertical axis to 0, but to 513 million, which is the NPV for base case. The black dot on the FOREX line (dark blue) lines up to about $2.3 billion NPV on the left, which gives a delta (increase) of just under $1.8 billion.

From slide 14, it says every point change in FOREX increases NPV by 75 million. From the chart chart on page 15 the current FOREX used is 23% (points) less. So 23 x 75 million = 1.74 billion which matches the delta in the paragraph above.

IMO, there is nothing wrong with the charts.