That is a very good question. How much is AECL worth? Mr. Chair, it may not surprise you that I do not have a figure as to AECL's worth. It is important to understand that there are two sides to Atomic Energy of Canada Limited. One side is more of a business, selling reactors and nuclear engineering services, while the other is basically a laboratory, with a lower market value at the end of the day. To be honest, it has no market value. There are no investors who would want to buy the lab with all of its infrastructure because its use is not strictly commercial.
Let us talk about the commercial side for a moment. When investors have an interest in it and they do not really want to see what is currently in place.... Of course, there are people, skills and intellectual property, as the member mentioned earlier. Those two things are relatively hard to assess. Ultimately, it is the market that determines their value, depending on negotiations.
The other value component gives rise to certain questions. How will it translate into various projects? What reactor redevelopment projects could this firm undertake in the future, and what would that mean in terms of profits? What is the potential for reactor sales? Various hypotheses can be used to calculate how many reactors will be sold or repaired. Then it is a matter of considering that figure in terms of the current value. The hypotheses can vary.
You also have to bear in mind that Atomic Energy of Canada Limited has certain debts and obligations that it has to meet. There is what we call waste, which is part of AECL's balance sheet and which represents one of its long-term obligations. So all of this ultimately affects the value of Atomic Energy of Canada Limited.
We know that it is an organization that interests investors in certain segments. It is not an organization that we could sell on the market tomorrow morning, taking it public, for example. The transaction is more complicated than that.