This is something I've heard a lot - but outside of Tax purposes, is the transfer of Liard really that important?

From my understanding, Liard doesn't take a dime until everything has been paid off (though I can't find where it says that anymore). Assuming that's true, they don't see a dollar for at least 10 years (4-5 years development, then ~6 years to payback the mine) which doesnt really do much for their present value today. Especially when you throw in risk of delayed mine development (and given our barebones BFS there's a lot of reason to delay it to improve it).

They're not worthless, I'm just not so sure they're necessarily it's the bullet proof reason for Teck to have to take us out prior. Or am I missing something?