As I posted on SH,

He wasn't speaking about a premuim on share price but on resource. Copper Fox Share price is not part of the discussion the Schaft Creek deposit resource, size and worth is.

When he speaks about the return against the weighted cost of capital, that is what indicates what Teck would be willing to pay for Schaft Creek.

Mining in the Schaft Creek district for 50 years presents a very good return on capital. The 21 year mine preented in the BFS with 171 million tons of waste reserve, not so much.