I used the Cu eq values from the First Quantum website, included the moly and converted to CDN to get a price per cueq, which was 24 cents and close to your number. Here now are the items the CP project has that SC doesn't: partner agreement on a RE, partner agreement on a FS, regulatory permits, a production decision, construction permits, start of construction and a year away from commercial production. I don't know how to calculate the increase in value with all of that project derisking so I chose Zafranal to estimate value because it was at a similar state of development and involved Teck. Another issue I struggle with is how we gave Teck 75 % , or 1.5 billlion worth of SC(using your valuation), for very little. We are relying on Elmer and EE to negotiate the value many here think we have for SC, yet the JV was a big win for Teck. I'm prepared for a low number and wait for news. At least we've been able to have a good valuation discussion, something that was impossible on this hub 4 years ago.