To add to that, obviously when you do your own analysis you need...

To add to that, obviously when you do your own analysis you need to make your own assumptions regarding what the price of copper will be over the next 10 years which assuming you are bullish the value would be more than the above.

However, as jantimont has said on the "blind" thread the price your partner is paying for the copper is extremely important as you have to discount your copper price forecasts accordingly which could drastically impact the value. You must consider the fact that the value of Rocklands to you is much different to that of OW. They would be evaluating their investment based upon how sourcing a discounted copper supply from CDU would factor into their total value adding activities of their business not so much on an EPS basis like you or I would be. In other words they may not be so concerned with the share price of CDU but on how sourcing the discounted supply increases the value of their existing business.