I'm not expecting VD to sell for more than 50-60% of the NAV at this stage, but even if we get to that, it's a lot more than many were expecting.

I'll take just about anything at this stage.

VD's NPV7.5 is $645M USD.  This is based on a margin of $2 per lb ($3.15 CU minus VD's AISC of $1.14/lb - all USD).

I somehow highly doubt we will be giving away VD with a big discount, if any, when spot copper is holding above $4, and also in view of the low-risk profile of a low-capex mine. 

If I am right, we will soon be seeing $5 spot copper, where the margin is then $4 per lb usd, essentially it would more than double the NPV.   At that stage it would be insane to discount a NPV7.5 value that based on half the current margin.  If Ernesto has to wait for consensus LT pricing to catch up to the new reality, then I think he will.  As an accountant he understands how much he would be leaving on the table by not waiting.  Anyway, jmho.

By the way...$645M USD coverts to $815M CAD...so if we can get close to that then it would translate to $1.35 to $1.63 per CUU share as a dividend...  Yeah Okay, I take it!!    

JMHO