I don't see any question of selling the royalty until the value...

I don't see any question of selling the royalty until the value is fully appreciated by the market. At present it would be hard to get an offer of $US20m for it in my opinion.MMc stated in a podcast a while back that if we get to 250kt Cu plus blue sky the hypothetical value of the royalty would be about 35m USD. In fact we are at about 180-190kt . We need an extra 60-70kt Cu and another 2m ounces of silver, plus blue sky to get to the 35m usd figure. SFR and CBE have a lot of work to do.

Important to factor in the value of the Cobre shareholding too and not just the potential NSR in putting value on SRT. SRT holds about 74m CBE shares which should be worth about 7m usd in my book, once the JV with BHP is hopefully full under way (about double where CBE are now).

Copper is nicely up today and we know it's only a matter of time before demand once again puts pressure on supply.

It's also possible that SCP add good value and dynamism to SRT putting the company in the window for a potential take over one day.

The significance of the deal with SCP is yet to be explained and justified of course.