RE:Yes you are correctI'm up past my bedtime now. At first glance, the issue is there is zero royalty value unless and until the poly metallic mine is built. Which may be never. What did glencore pay for the property excluding the silver royalty? Almost every royalty deal I've ever seen has a clawback or buyout clause to reduce the royalty to 1% or zero. How certain are you that doesn't exist here and the buyout is 5 or 10 million? TTFN, I'll try and look at it over the weekend. I thought the bid was very "opportunistic " without any silver. I'm a hard NO. See my jibberish on ceo.ca about an idea to round up proxies from recent sellers and vote the "against ". That would give lawyers heartburn eh?