This is quite an interesting point and I will be the first to admit I kinda glaze over when the finer points of a contract are being discussed. I tend to believe in round numbers like 20,40 75 etc and the odd percentage points don't really impact on me all that much. But this does ring a bell with me

'The way I understand it, Teck can elect to either opt for 20%, 40% or 75% of CUU 's direct and indirect interests in Schaft Creek. This doesn't include the new Liard shares purchased'

If Generaledger is right and I think he is, this would probably rule out the 40% option altogether. I know we all think the 75% is the only sane option anyway but it would be good to know if the 40% option was a non-starter. If the back in for 40% does not give Teck the 50% control, I don't believe they would consider it at all.

jmho

bbay