Things that were true at the moment they were written have a habit of not being true later on when we need them.
I think we have to keep a running balance of all the factors that go into the value of this project. The dollar is down and that adds significant value. The price of copper is down and that reduces the value. The price of fuel is down (per cbew) and that adds value.
Before our FS came out the price of molybdenum plunged from the rates we used in the PFS so much so that our total revenues in the PFS were 50% from moly and in the FS revenues from moly were down to 12% of the total. We knew that information beforehand and should have realized it would have a significant effect on the final results.
I'm just trying to keep a general sense of the ups and downs that we are experiencing and the effect it will have on the final result. Teck can only do so much to improve the FS absent the outside factors.
The FS captures a moment in time rather than gives any certainty. It's really a wonder that any mines get built when you think of the huge costs involved and the risks.
