The NPV was based on copper at $3.15... if we factor in a 20% increase, we are close to current spot at $3.78.  That is still less than $4.50 target price that I hear from some analysts.

According to the graphs below, then our NPV would be about $1,050,00 US which is $1,320,000 Cdn$ and an IRR of just under 60%.  This shows the further potential of the deposit if the copper bull market continues. 

In talking to Lynn at the office yesterday (about the warrants), she stated that the next step for VD is to file the full document on Sedar(?) within the next 45 days.  The Copper Fox board will be meeting to decide the next steps - whether to further enhance the value of the property Or whether to sell the property as it is.  She said they were curious what would happen with the share price over the next few days.

She sounded excited by being able to have more news with the PEA for SC.  As far as she knew, it was still on schedule for delivery in Q1.