On October 18, 2011 they filed a notice of intent to qualify to file a short form prospectus. They also filed their annual accounts document that was required. It does mean they could do a major financing at any moment.

I don't think Teck would have staked all those claims if they had no intention of going forward with this project to some degree. If they do QB2 they could just opt for the 40% earn-back and not be on the hook for the financing. Or, and I think this is more likely, they would partner up and go for the whole package and then break it up again after clearing out the legal overhangs.