...Elmer had said that it would cost Teck about $400 million to opt in for the 75% and then $800 million in capex costs to carry through to production. At that point it would just be better to buy us out..

agreed, another advantage for Teck to take 75% over a full buyout at this time, is that they would gain the expertise and knowledge of CUU and work already done on Schaft. In collaboration with Teck; CUU could manage a drill program and enhance the property by initiating recommendations in the FS. And then at some pre-arranged or negotiable time, Teck could buyout CUU; and as much as the cost to Teck would likely be higher, it could be off-set by the expected increase in resource lbs and metal prices.

just speculating.

jaf