See below for some quotes from Teck's conference call. I've added my comments below.

"We will keep our eyes open for opportunities in copper and occasionally in other commodities although we don't have anything of interest right now."

So Teck is primarily interested in copper projects. Obviously they wouldn't share quite yet if they are interested in Schaft Creek.

"We will be finishing our budgeting process in November and we'll have more definitive numbers on both sustained CapEx and development capital that we'll put out in the next press release normally."

Let's hope Copper Fox finishes the feasibility study before November!

"With our Relincho plans, we were relying on third-party supplies for both power and port. And we had in mind, in particular, the use of project that was underdevelopment by a third party and which did have some of its approvals. Those approvals were subsequently withdrawn through an action in the Supreme Court in Chile. So there's a great deal of uncertainty about if and when that port will be booked. So we are, in fact, now actively exploring what our alternatives would be about other alternatives, which would be third-party supply for the port or even the possibility of a port construction in -- within our own plan and looking at what other options are available for power supply. We are, at this stage, looking to build a powerhouse of our own."

It does not sound like the Chilean government is overly supportive of new mine development. If Teck has to built their own port and power plant, this would significantly increase the costs of the Relincho project.

"...we've been spending a lot time looking at copper opportunities lately, as I mentioned, having moved on from the iron ore thing. And the more we look at what's out there and compare it to QB2, we wish we could just snap our fingers and build QB2. Because once QB2 is built and it's going to run for 50 years and be expandable, cash cost of $1.07, a high-grade clean concentrate using water from the ocean, so not interfering with this salar and local communities and stuff, boy, it looks really good, nice, clean solid operations. We should like to get that built. "

So the number of good copper projects is very rare. It appears that Schaft Creek is also a low cost operating with high grade clean concentrate. I don't know if we can claim we are "long life" yet, but maybe Elmer's proven this case already for us.

" The exploration results in copper over the last -- not 5 years, but 10 years or probably 20 years, hasn't really kept up with the world's needs.So we think the outlook for those 2 commodities is very strong, and that's why we've invested in those. "

Clearly Teck thinks copper has a good future. Good news for us.