Follow up thought: look closely at the NPV scenarios for Teck on QB2. This is why I look at CUU somewhat conservatively. At $3/lb Cu, we can still make good money, especially with the increased RE. Below $3, hopefully gold and silver hold.

Maybe Schaft Creek is looking better to Teck, who knows?! I do expect a bump up in our CAPEX in the BFS however. Not worried though. More metals and good grades should offset any increases. And our Cu Eq is well within the ballpark of an economical project.

"The technical report shows that at a copper price of US$3.50 a pound and a molybdenum price of US$12.50 a pound (relatively close to current levels), QB2 has a solid NPV of US$2.2-billion and internal rate of return of 13.7% (in the “base case” scenario). But if the copper price falls to US$3.00, the NPV plunges to US$1.1-billion. If copper drops to US$2.50, the NPV is negative US$239-million."