Management can't sell the "company", what you are really talking about is selling the company's asset or assets.

Also, I think what you are really asking is whether management could favour Ernesto with some sort of favourable terms, something less than the assets might be worth if sold to Teck or some other outsider.

As a director of the company, Ernesto has fiduciary duties not to use his position to gain a personal advantage relative to other shareholders. He can't place himself in a position of conflicting interests (ie, him vs. other shareholders). He would be sued, probably successfully, if it could be shown that he used his position to secure a personal advantage.

If Ernesto outbids other potential purchasers then no harm no foul, good for him (and better for us).

I also think management and Ernesto would stay miles away from any conduct which could result in litigation and the resulting delays to developing the project. Litigation like this would take a minimum 2years with current delays in BC courts, more likely 3 years.