I think you got to give more value add to exploration potential category and the carried to production clause!
I believe the Borden project sale which got over 500 million was mainly due to exploration potential of project (Goldcorp back then paid extra hundreds of millions simply for the potential to find more gold for a small resource asset (2 million ounces of gold) which today in now in production). During the sale, it was a development asset like SC.
https://financialpost.com/commodities/mining/goldcorp-inc-to-buy-probe-mines-for-526-million-to-win-control-of-northern-ontarios-borden-gold-project
Last summer, Probe said it identified two million ounces of high-grade gold resources at Borden. While that is not an enormous find on its own, the high-grade core is surrounded by large quantities of lower-grade gold, as well as untapped exploration ground that offers upside for Goldcorp.
“We’ve consolidated a property that’s 70 kilometres of strike length within this Borden belt,” Mr. Palmer said. “It’s massive.”
The carried to production clause is huge. A major asset for junior developer like CUU. As an example....A third party acquirer would save 750 million! Assuming the cost to build SC is 1.5 billion and Teck would normally share the cost to build a mine with their partner! Our clause saves the third party miner ALL THAT MONEY. Free carried to production deal if you buy copper fox's interest in JV contract. That has to be worth 100 million or more!
