RE:RE:RE:RE:RE:RE:Buy HCU at 25% discount to ETGA few years ago, SAND spun off some of its primary copper assets to an entity, which became HCU. This included SAND's 30% in Hod Maden, in return for a $100m note and a 20% stream of HM's gold for 50% of the market price (so effectively, HCU kept 10%). Then, SAND also spun off its 1.6% NPI in Antaminas, for roughly $100m, with SAND having a silver stream, and keeping 0.6% of the NPI. As part of the transactions, SAND tossed in its 25% of ETG and a few other copper streams/royalties. SAND has about 34% of HCU. Although there was a logic for the valuation of the transactions of HM and Antaminas with HCU, there was never really an any explanation why SAND also gifted its 25% of ETG. Very strange, but a reason that I like HCU and see signficant potential upside.