Both CF and Teck have a similar arrangement with their ownership structure Teck  have the Keveils and their class A shares that control the company which is why they trade at such a discount to their peers a buyout of the company would have to be approved by them, Teck should be trading above $40 with its diversified portfolio at least and we have EE and majors know they can't get us for next to nothing and they have tried over the years like  some desperate junior that has no insider ownership  and a board that will sell for bargin prices. Maybe EE said to the Keveils you won't sell your shares to say BHP for $40 why should I sell my mine for $X.XX price of copper is going up and my 25% JV of SC will be very interesting and profitable for a major In the coming years.Interesting article on the Copper Investing News site that sees copper prices in the coming bull cycle at $7-10.