Good points and great illustration Cuuvette! Its these reasons that many of us think CUU will be entirely bought out by Teck instead of taking a back in option. IF the BFS turns out to be what many of us think it will ( say it doubles the PEA NPV to 6B at 5% discount ), Teck could buy out CUU for 3B and then turn around and sell 49% to another partner for close to 3B. They would essentially pay next to nothing to acquire 51%, retain control and only have to finance their portion (51%) rather than the whole thing. Teck would also have eliminated the conditions of the agreement with CUU to build the mine within a 4yr timeframe. This would be a win/win senario for Teck and CUU shareholders.