I tkink they will be able to burn a quarter billion in 4 years.

The startup capex on this mine, power runs from the NTL, road completion, mill construction and outfitting, haul trucks, draglines, etc should require that easily.

Also, I agree, there is no way Teck would exercise with a potential forfeiture of incurred expenses in the event they should fail to fully achieve the spending objective in the required time.

The relief for that requirement would be handled by a novation in the agreement.

It is not necessarily in CUU's interest to have that requirement hanging over Teck, especially if Teck is performing in good faith to achieve the startup objective.

Look for that clause to be restructured in the event of a back in agreement.