I'm not computing that scenario Webs. We have close to 430M shares and the $400M money from Teck's 75% earn-back is going to explore plus develop the mine AND pay us a dividend till the mining starts in 14 years? Obviously an exspenive project - with a long time to production - plus a high share count is going to make this a challenge.
I'm not sure if this is how it would work but...
Say we round to 430M shares fully diluted. Say the shares are 70 cents and pay 1% or 0.7 cents a year each. That would be about $3,010,00 total a year paid in dividends. For 14 yrs till we see production, that would add up to $42,140,000 till production. If 2% dividend double it, 3% triple it and so on.
If you had 100k shares, you'd bring in $700 a year at 1%.
Let's say it is a juicy 5% (whooo!!!) then I figure $3,500 a year on 100k shares. The total FD Dividends paid out over the 14 yrs on the 430M shares would total $210,700,00. Probably not a bad number if you were teck and you could call all the shots for $210M on the project. The guy with the 100k shares would get $49k for 14 years of dividends.
I'm not sure the guy with the 100k shares would think it was such a bargain unless they bought today at 69cents or lower.
feel free to hack away at that figuring.
