Re: Where did you get the idea Elmer would sell for 50% of NPV? Why bother with all the work if he was to give the properties away for cheap? 

I really don't know what the selling price would be. I know that sellers usually think that what they have is worth more than what the buyer thinks it is worth.  It is that way in all areas of life. A compromise is usually necessary to come to an agreement.  But sometimes other factors will cause one side to give up more than they would otherwise.  So, a rising copper market or a shortage of projects to buy will raise the price.  While management wanting to exit a project sooner will lower the price.  I don't know where the trade off points will be us.     

For me the 50% just feels like a conservative number to show me that our share price could rise 5X and still have room to rise.  It is also the number that would make me a CUU millionaire.  

I too wouldn't be suprised if management chooses to unlock more value in VD by doing the PFS.