I crunched a bunch of numbers with newer metal prices, NPV discounted 5 or 8, increased CAPEX, increased OPEX, etc. ... there are so many variables here and that is why I find it so hard to predict the buyout prices. A multiple of IMM's CAPEX would be amazing, but this doesn't seem to be the case.

At this point, I've mostly stopped calculating the never-ending array of scenarios but firmly believe that in a worst case scenario I'll get all my money back + a little extra. I do think we'll see CAPEX and OPEX bumped up from the PFS, but hopefully this will be offset by the higher TPD. Teck's agreement a few months back with a few steelworkers unions (18% wage raise over 5 years??) is an example of the direction OPEX is going. Not going down anytime soon.

But, still very optimistic. Elmer and the others seem so confident in the project ... I think the draft BFS must be looking pretty good to them right now.