There is IMO a growing possibility that we get a 75% back-in decision only for now and only later see the buyout.

If they are going to do this then I doubt it would be the 75% earn-back. With that option they have to commit to financing and they would be arranging financing for 100% of the project while only owning 75% ultimately--it doesn't seem like the best option. It also makes a much better product for us to sell to someone else, and Teck doesn't want to get stuck with a partner who is expecting them to fund the project.

It might be better to take the 40% or even 20%, and then put the money towards the drilling this year. Once those results are imminent they could make an offer for the remainder. It is unlikely we could find another buyer in that time period anyway.

I don't quite see where we are going to get the money for the mysterious Arizona projects though if Teck only opts to earn-back the lower amount for this summer.

There are also the area of interest properties that would have little to no value if Teck only opted to earn-back a percentage of Schaft Creek. Teck has also got claims that fall within the Area of Interest and they might simply throw those into the pot as equal to ours meaning ours have no extra value.