Teck turning us down is NOT a good thing. Schaft Creek is exactly the type of project that Teck loves. It's a low cost asset with a long life. It's in a politically stable environment and it will produce multiple metals. If Teck turns us down, they are basically telling us that it's not a project they can make money on. Since they could have had 75% of the project for $300M, they are telling us the project is worth no more than $400M ($1/share).

Also, without Teck we lose a huge partner and our path to production.

If Teck likes us, I suspect we see either a 75% back in or a full buyout.

Based on Teck acquiring a ton of property nearby Schaft Creek, I think they might like us :)