LOM, QB2 should produce 563Mlbs CuEq with a total cost around $2.05 US per pound.

With copper at $3.25 US, that's $1.20 US of profit per pound.

Sumitomo's 30% should therefore generate 169Mlbs x $1.20 US =$203M US profit per year

LOM, I' expecting SC to produce 350Mlbs CuEq with a total cost around $1.25 US per pound.

With copper at $3.25 US, that's $2.00 US of profit per pound.

Copper Fox's 25% should therefore generate 87.5Mlbs x $2.00 US = $175M US profit per year

It's not perfect, but cash flow's will set the base for negociations.  After, it's really hard to compare both projects. 

They both have pro's and cons that are not always easy to convert into a monetary value.

However, if Teck got 1.2B US for $210M US per year, I feel $175M US should still provide significant upside from this level.

IMO.

MoneyK