Another way of looking at it is if we were to keep the project and receive 27 cents per year for 15 years, or $4.10 per share in total. ($113M/413M shares = $.27) I think that is a deal I would take.

Bang On! This is why EE may decide to just ride out into production. Why not hold 25% of a producing mine? This is a great dividend option for EE, based on these numbers he would be making +$70M a year just holding his shares and entertain endless offers.

The downside of improving the economics of SC, converting the "waste" rock, and increasing the size of the mine is that it makes the project even more expensive to purchase. In a climate where many companies are cutting spending this would make it less plausible for a buyout to occur in the near term.

However, if Teck advances the project and the EA submitted. Prospekt's note about keeping the project going forward becomes a greater possibility.