And come to think of it, when Teck took Antamina, they took as much as they could (stayed as operator) and split it of to BHP 33.75%, Xstrata 33.75% and Mitsubishi 10%.
Nice little bunch..
I just posted about what BHP is looking for (they work with Teck)
Xstrata (Now Glencore) own 10.72% of Liard (they work with Teck)
And Mitsubishi paid nearly 1 Billion for 18% of Quellaveco (they work with Teck)
Now I'm going to pretend to be Ernesto for a minute. If I own Schaft Creek and I can have Teck try to spend $360 million on the unexplored portion of the Paramount and other areas this summer...I'm going to say drill the crap out of it then I'm selling.
I also think the current Feasibility numbers (with waste rock, 1/2 resource used) will make Teck will look like the ''Hero'' after they make it their own and do what they have to do. People will look back and say Teck was so smart...
Yet a group of longs here knew it all way before Teck made their move.
Let's face it, apart from this group, no one knows the real potential of the Schaft Creek project. Given what we know today and any exploration success, Schaft Creek could easily double-triple in size. The strong indications are there, someone needs to explore it.
Once this is proven....the buyers will be lining up, and Teck already has a good working relationship with a couple of those potential buyers.
If Teck elects to back-in 75%, you can be sure they'll be explaining why to the media, the BC goverment will also probably have something to say.
The story will spread past this little group of 200 already invested individuals.
The smart money is going to want to know what made Teck so interested...
Oh look at the size and potential, look at the economics with upgrades!!, no envio problems !! port and logistics !! Power with BC Hydro, first nation support...
Hmmm let's see what happens to NPV if we play around if the Canadien interest rate and dollar and Copper price goes up...
Oh Teck is financing to production ? Teck needs to spend $360 million on exploration ?
Yeah Teck will look like a hero...