Only using a discount rate of 7.5% and copper at $3.50 US would probably have increased the pre-tax NPV in the range of 2B US.  I don't feel this would have been an unreasonable expectation!

IMO.

MoneyK

I don't feel that your expectation was unreasonable.  I was expecting something like $2.5 - $3 B US.  I was pretty sure we would get $3.50 in this PEA and that on top of all the recent improvements it would have had a significant NPV magnifying effect.  We chopped our strip ratio in half, we reduced processing cost from $12 iirc to $8.66 per tonne.  These improvements on top of all the others should have had a larger effect.  They must have been offset by negative effects of lower price assumptions, lower assumed grades and recoveries and greater contingency costs.  This outcome feeds into my main theory on timing of a SC sale.  Mid-2022 and that is based on my prediction of a circa $6 copper spot by then.   At that level, I can imagine the Teck board losing its mind over the lost opportunity cost of not advancing SC into production or at least taking us out before copper goes even higher.   JMHO GLTA