"When we say Teck will have to pay 400% if buy-in at 75%, are salaries included or only expenses related to the exploration and resulting numbers for BFS? What about value added to the project? Like Port Stuart, lands, permits for roads, electricity, EA? ..."

The eligible expenses are clearly defined as "Expenditures" in sec 1.2 of the 2002 agreement. Basically, it covers all "direct and indirect" expenses in respect to the SC property. It has to be actual expenses and not intangibles such as the value added for reserving the port facility etc.