Can teck afford to take a smaller percentage and have another company in control??? Doesn't that create a cOntrol issue?

If I understand the JV language correctly they can take 40% and still have control as operator.

9.3 Teck Cominco shall be the initial operator of the Joint Venture if its interest in the Joint Venture is a minimum of 40% and it may remain operator as long as it retains at least a 40% interest. While Teck Cominco is the operator with less than a 50% interest, it will, for purposes of management committee decision-making be deemed to have a 50% interest.

But as Vette pointed out earlier . . .

And the main point here is Teck can get 75% of this much superior project (in every sense) for 320 million (80mx4), and since 240 million is Teck's, they're getting 75% for 80 million.

I would think Teck would have some 'splaining to do' if they didn't capitalize on the 75% option.

On another note, I've noticed the weekends are getting longer the further into the end of summer we get.

Cheers.