China bought Las Bambas for $5.8 billion. They paid another $400 million to Glencore for the incurred construction costs. And probably spend another $3 billion in finishing the construction costs of Las Bamas.
On the other hand, you can invest in a company that owns 25% of a world class mine that produces copper at a buck a pound. You'll be partnered with a mining producer. You'll be financially carried through the construction phase. After 5 years (can be less after optimization studies), you have 25% of a mine that produces 230 million pounds of copper, 200k oz of gold, 1.2 million oz of silver, and 10 million pounds of moly. All you have to do is invest at this company knowing that this will become a mine.
This is the kicker, when will we know IF this asset will become a mine. That's why the meeting is so important today. Elmer and co will know what value can be obtained from Teck as operator. We will know the value of what SC is. And maybe the potential.