MK, in regards to value.....

Elmer has publicly stated fair value is based on NAV (net asset value) of projects. The board of directors will determine a price based on these factors (as stated by Elmer in the conference call):

1) Updated NPV of Schaft Creek (based on several studies completed to date)

2) Exploration potential (M&I and inferred metal not included in mine plan and district zones of mineralization- Discovery and Mike Zones)

3) Contractual agreement terms (Laird shares, milestone payments from Teck, carried to production clause- free ride for another development partner)

Imo.....the above factors smells like many hundreds of millions.