From your last set of numbers you had  "10.2B (P&P) + 2.7B (M&I) + 11.3B (I) " , which now would change to 10.2B (P&P) + 2.7B (M&I) + 5.5B (I)   = 18.4B. So 18.4 * .093 * .25 * 1.3 = 556 milllion CDN. Then there's another 50 million that resides in the JV agreement which is additive to the metal valuation. Then there's the challenge to convince a buyer to use the same value calculation when there are other acquisitions to choose from. We'll see what Elmer can do, or not. The market is not convinced we're close to making a deal. I've bought all the shares I want and have a low enough average to survive even a fire sale.