I just think we may be overestimating teck's willingness to pay absolute top dollar for us.

And why wouldn't they? Teck has in the past paid for projects (eg Fording Coal ) and companies that are earning them hundreds of millions if not billions now. Teck's focus is on the long term. Macro conditions in the short term play very little in their thinking and planning ( as does other Major mining companies ).

Just consider the lastest report done by BMO that stated our cash costs for producing copper would be -0.04 per pound (lets just say the copper is free after all credits). At current RE of 7B pounds of Cu (with potential for alot more) that translates to 7Bx$3/lb = 21B in profits for the life of the mine. Subtracting a capex of 4B to build the mine and you are left with 17B in profits.

Even discounting this figure in half leaves 8.5B in net profits. Would you pay roughly a third of that ( $7/sh CUU ) to get that much back? I think that decision is a no brainer for Teck given the profit potential and size of this deposit. Given these numbers done by a third party ( BMO ) and the likelyhood that the FS numbers are even better I would be very surprised this goes for less than $6/sh. That in a nutshell is my back of napkin calcs.