Calvin,

Not sure where you are taking the info, but from my research:

• SC (100%) is 13.6Blbs CuEq (or 3.4Blbs CuEq for 25%)
• San Nicolas is reported to be more than 2% on a CuEq, therefore at least 4.63Blbs CuEq

My understanding is that Agnico Eagle will pay $580 US + 50% of the remaining capex (above that $580M US).  In total, this currently means they may need to invest up to $840M US in total (acquisition + capex)?  This comes to around $0.18 US per lbs of CuEq.

If compared to SC, this would value our 25% at $616M US, since our JV includes a carried-interest to production.

It's hard to compare all of them, because Agnico Eagle will not make any payments upfront... so if Copper Fox wants funds in advances, that probably comes with a discount.

IMO.

MoneyK