My concern is Teck presenting a low offer before other majors can get a shot at a counter-offer.

IMHO, I think that would be a fatal mistake for Teck. Cuu management could just say "no thank you" and say "next offer please". Do you think others are also interested in acquiring this district from under Teck? Given the shriking supply of desirable Cu properties out there I would say its a given.

IMHO, in the next few months we are going to see a scramble for hard assets once the central banks begin another round of QE and currency debasement. Currency debasement is coming. That is inescapable if the central planners want to perpetuate the current financial system. I think the managers at Teck know this as well as large sovereign funds like CIC. They must convert their US dollar holdings into tangible assets soon or face loss of earning power later. IMHO, I think this will be a driving force for Teck to make a reasonably good offer soon or risk losing this district to one of their competitors.