MK, i agree with you but that's "fair value" you, Teck, CUU would hope to achieve.

What it doesn't include is what happens if copper blows over $5? what happens if miners are suddenly wanting to buy safe jurisdiction vs countries who are not as willing to follow the laws the made.

I do feel there is a chance where crazy can come and crazy will bring a premium on large safe and easy projects like SC.  Teck would be smart to take us out before that day comes but so far with QB2, they don't look too smart to me.

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Aside from that, it's also the same argument how Glencore offers $8 billion for Teck's coal but Teck feels their coal division is worth more than $8.  It's a matter of who's willing to bid and pay for your assets.