Okay yes this is true.....we own 100% of Schaft Creek. For now.I honestly cant see Teck passing this up. 75% for about $260M? Thats a hell of a deal.
Good, so now that we got that cleared up. Let's give ourselves some SP credit for:
* The actual Teck back in news and the exposure it will bring
* The 4x expenditures (yes 75% of that goes to Teck, but I'll remind you all that each $ Teck is forced to spend to earn in, unlocks more value, therfore continuessly bringing the value of our 25% up.)
* The Teck upfront financing
* The extra land and potential we have shown (remember Andean 3.6 Billion deal...all based on potential)
* The Liard shares we own
* The NSR we would own
* The value of the fulluy financed 25% over 100 years if we decided to keep it.
* The control we have over the contract and decisions as operator until Teck earns at least 40%. CUU could sell this agreement to a Teck competitor...I don't think that's something Teck would be happy with....
Once feasibility hits the table..we are 100% in control...not 25%.
