There was no 200k shares traded at the time sim1 posted saying he hold few mins ago.

fyi, JV condition is that production decision and completion of construction is $40 million. 

That's roughly $9 cents a share.  Another way to look at it.

Better way to look at it is FS from 2012, we get cash flow of 24 cents a year per share ($104 / 434 shares).

CND stays at this level, it's 31.5 cents a year. 

We just need to complete all the numbers and give enough information for Teck wanting to put this into production.