RBC Capital Markets on copper project valuations This is from RBC Capital Markets research report, May 7, 2018
Potential for increased M&A
We believe M&A could pick up in the copper space alongside rising prices. ...............Junior copper explorers have received renewed attention and the base metals juniors we track are now trading at $0.03/lb (EV/lb CuEq M&I+I) which remains below the average transaction price since 2010 of $0.07/lb (Exhibit 10).