Price per pound is an Interesting way to value a deposit. Exploration guys calculations show the downside of the method.... It doesn't consider the costs to actually get the copper out of the ground.

$90 million for VD verses $291 million for SC doesn't meet the sniff test when comparing their PEAs. Great example of the problem with the method...but there are problems with any method because we are dealing with estimate of the future.

From exploration guys post....

For VD I would use the 1.1 billion lbs cu recoverable in the PEA since I doubt a buyer would pay for more. 

That gives 1,100,000,000 * 0.065= $ 71,500,000 USD

USe a conversion of 1.25 for CDN because that's what Teck used in the latest AIF and actually is close to current spot:

$ 71,500,000 * 1.25 = $ 89,375,000 CDN

For SC we don't have the recoverable yet from the PEA so we could get a high end estimate from the 11.9 billion lbs cueq listed on the latest presentation:

11,900,000,000 * 0.065  * 0.25= 193,375,000 USD for 25% of SC

Converting we get 193,375,000 * 1.25 = 241,718,750 CDN

Then we add the value left in the JV agreement:

241,718,750 + 50,000,000 = 291,718,750