* If Teck opts for the 75% earn-back they are required to spend 4X current expenditures before they get their 75%. That works out to about $300 million currently. That is a lot of money to spend on drilling or mucking about and not trying to build a mine.
* To earn their 75% they also have to commit to arrange financing of the projected capital costs after technical completion.
Yes Prospekt and the fact that Teck is spending that 300 million on the property, it is ultimately building major value into our 25%.
Teck would have to pay more for us after putting in their own money ???!!! LOL.
You see that makes no sense.
They'll just take us out before they start bulding in value for someone else.