I'm in the camp that thinks we'll be surprised by the power of negociation of Mr. Ernesto E as I'm sure is fully aware of the price war he could involve Teck into if we are not getting at least fair value (plus a bonus for not causing a price war with the other majors, especially the ungry ones in China).

Below 4$ would be a steal for Teck and I think everyone would wonder why in the world we even bothered drilling and completing a conservative BFS and why we wasted a year and a half in PPs and dilution to get the 2 y high plus a small premium. IMO I still think that between 4.50$ and 7.00$ is a resonable guesstimate.