So let me get this straight...were sitting at ~$500 mil. mkt cap and we either own ~25, 60 or 80% of SC. If we own 25% (ie. Teck back in for ~75%) they have to fund ~$300 million towards OUR part of the mine + arrange all of our financing?

No. "If Teck elects to exercise its earn-back option pursuant to the Option Agreement, then Teck has the right to elect to acquire either a 20%, a 40% or a 75% working interest in the Schaft Creek Project from Copper Fox by solely funding subsequent expenditures equal to either 100%, 300% or 400% of Copper Fox's prior expenditures pursuant to the Option Agreement."

They will have to fund 4X our expenditures towards building the mine and we would own 25% of that, therefore we would get 25% of the value of the funding which would be exactly what we put into it in the first place. Except, of course, there would be greater added value than the dollars spent because they project would be in the hands of a major and they would be building a mine.