goFWR

I do agree with what you are saying, but I am doing a bit of devil's advocate to split hairs, trying to see things the way the market might.

The factors of transport, hydro and other infrastructure can be quantified as costs, yes.

However, the risks of environmental assessment and first nations interests can not be quantified, and so we are being traded at a percentage. If there is a risk that there will be no mine, then the takeout companies will not step up with the premium that we want to see.

After a real quick check, I think the FN issue may be a serious factor in our latest SP drop, since the cancellation of the meetings in Thunder Bay. I think that the market may fear that this indicates that the first nation communities are walking away from the table. The latest news release related to the first nations demands of provincial ministers might be stoking the flames.

FWIW, I don't think that the FN will be holding up this project. Even the government, though crying broke, must see that there is a need for a massive injection of financing to get this program off the ground. When the time comes for expenditure of money, the government will either provide grants or guarantee loans to get the infrastructure in place.