In the general scheme of things at the moment and the global uncertainty maybe this is the prudent play for Teck, lay out very little cash and come away with minimum 40% of the play.

Why would this be bashing? It would be a good thing for us to get 60% rather than 25%!

I think it would make better sense for Teck to take out the whole project and then sell off whatever portion they don't want to another party. That way they could actually get their share for nothing and would not be obliged to follow the requirements of the Agreement. They would be able to write up any contractual obligations they could negotiate with their new partners.