https://www.teck.com/news/news-releases/2018/teck-acquires-quebrada-blanca-minority-interest-

https://www.miningdataonline.com/reports/Quebrada%20Blanca%20Phase%202_FS_02032017.pdf

The 2017 FS gave QB2 an after-tax NPV (8%) value of $1.253B US with copper at $3.00 US.

Full NAV value for the minority interest = 1.253B US x 13.5%  = $169M US

The minority interest is getting (3) payments totaling $162.5M US.  When discounting those milestone payments at 8%, that brings the value down to around $145M US in 2018 dollars.

Therefore, we could say that the minority interest should get around 86% (145M/169M) of their after-tax NAV (8%).

Now if copper averages $3.15 US following production, the minority interest will get an additional 100M US the following (3) years.  With copper at $3.15 US, the after-tax NPV (8%) value based on the 2017 FS should be around $1.670B US.  

Full NAV value for the minority interest = $1.670B US x 13.5%  = $225M US

The minority interest would now get 6 payments totaling $262.5M US.  When discounting those milestone payments at 8%, that brings the value down to around $205 US.

Therefore, we could say that the minority interest should get at least 91% (205M/225M) of their after-tax NAV (8%).

Conclusion:  I could see the value of SC between 86% to 91% of the after-tax NAV (8%) without including any other benefits.

IMO.

MoneyK