The contract states though if Teck opts to back in early all the clauses are triggered and it is as if the feasibility were released. They can't circumvent that by going early.

Not if the new terms of the agreement are being negotiated as we speak and will be released all at once with the back-in.

Well, yes, it would be a moot point if they just bought the whole project out, or negotiated a CUU2. I would imagine this is a much preferred position for Teck than having to deal with all those old legal documents.

The current agreement also states they have to negotiate a JV partnership sometime between the writing of that agreement back in 2002 and within 60 days past the release of feasibility. That would be a long negotiation in and of itself that would be pointless if they were going to back in and do it all over again. That's why I think the longest time-frame they have is between now and 60 days after Feasibility.