"That is what the contract says...that in order to earn back their percentage Teck has to solely fund subsequent Expenditures. I sort of think the JV can change that clause but I would hope it somehow gives us more power in these negotiations.

Expenditures is defined as:...."

That's really interesting! The cuu and Teck legal team must be spending hours interpreting those two words "subsequent expenditures".

At first glance, restricting the spending of all that money, up to $400 M approx., seemed not reasonable; but like what prospekt pointed out, if one looks at the contract, that's what it says: "subsequent" implies a continuity, continuity in the type of spending, and if "expenditures" are further defined in the contract as all those exploration type expenses, it makes it pretty clear. All that money from Teck must be used to find more value for SC! Wow, the sky just lit up for cuu and its sh! GLTA!