Teck must earn their 75% as they spend money on the project. Only once they have spent the entire 400 million will they get it back.

During that process CUU does have control (even if Elmer was being polite during the webcast)

And the 4 year clause is on black and white (even if Teck tries to change it).

The risk for Teck is that CUU sells to another major, someone willing to control Teck and impose the clause. Doe sTeck want to take that risk...

Way smarter for Teck to get rid of us, and sell of the 25% without all those clauses attached and keep control.