... and all based on $3 copper.

What do you mean? Are you trying to put your usual negative slant on today's PEA as well? Do you think the copper price selected in the PEA for the life of the mine is wrong?

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What I mean is we have $2 copper, not $3.

The numbers are based on inferred, and the impressive numbers are based on $3 copper.

If we expect to sell this now (ie before copper recovers, and the economy is in flux) we are not going to get a sale price reflecting $3 copper NPV. That's my point.

Why do you think Teck's SP is at $5 now?

When copper is at $3 again their SP will adjust dramatically, but they are taking a big hit now because of poor comodity prices. Same applies here...