I do/did share my thoughts with the office, but they don't comment much when it comes to valuations.

At the end, our management needs to become creative and get us out of this situation with a win-win.

Constantly waiting on Teck is no longer an option and proper valuation can be done using other methods than the NPV (8%).

Sumitomo paid around 250% of the after-tax NPV (8%) when using copper at $3.00 US and 170% of the after-tax NPV (8%) when using copper at $3.25 US for a partial carried interest in Chile.  Where did that valuation come from?

I now feel the 4x to 5x the EBITDA is a much better indicator and in line with the industry standards.

Even Teck values their SP the same way... look at slide 8.

https://www.teck.com/media/QB2-Partnership-and-Sanctioning-Conference-Call.pdf

IMO.

MoneyK