When the resource is of a definite size the JB method is more accurate. Copper Canyon is an example of this but you have to factor in the negatives from the IRR to get the true picture. There are a few others that could be compared but they have transportation logistics to deal with. WRN? I think would be one. Several Kamloops area one come to mind and a couple near Highland Valley are also in the running.

The issue becomes clouded when the resource is open and has some proof of it. I think Elmer will be forced to divide it up. We have focused of the main areas for this reason. This way we can apply the JB method to just the RE data as given. That gives us a basis for negotiations. The remainder of the property will have to be abandonded by Teck or a new contract for exploration must be struck. There's no way around it.

If we look at it from the yearly returns then they have to give us 2 times the yearly because they could do 300kt/d. The fact that they want to do 150 is not our concern. Suppose Teck decided to do only 90kt/d? Then what? We give the project away because it would take 6 years to pay it back?

The reality is, and this may be on purpose, we have full proof of 1 SC and partial proof of another 2. That is a juicy dilema to me.