I've seen the video now and did not think Elmer was "giddy" myself. I did think he looked happy, a bit more than usual. Such things are subjective. Unfortunately, we are left to cling to these things and try to read from them what we can as we have no idea what CUU's definition of fair value is. As JJ posted, the interview is scripted ahead of time and therefore deliberate.

Elmer has stated repeatedly that the Board will review the data from the 2022 program which consists of what we now have (drill core metal assays) and the subsequent metallurgical recovery data that will be based on samples selected from these cores.The drill results themselves appear to have filled in the gaps they were intended to.

My understanding is that the metallurgical results will fill in the other gap flagged from the 2021 PEA. And both of those represent the "low hanging fruit" of relatively simple things to do that may actually add significant value to SC and our share. There are other parallel things to go with these, like construction optimization.

CUU has been content to have Teck foot the bill thus far and have congratulated themselves now for more than a few years on this aspect of the SCJV. A tipping point does have to be reached and my hope is that this is (finally) it. By going for these value-adds, copper, moly, Ag have gone up significantly which will also help our cause. (Aside - I'd be curious to know which adds more value, the 2022 results or the metal price increases?).

So, I see all of this contributing to "fair value" and later on this year for a deal to finally be struck, similar to what YM indicated the other day. In the meantime, and until the metallurigical results are in, we will have to settle for reading Elmer's facial expressions.

K