'we would hire a consultant...(to review comparables, buyouts)''

Shouldn't this have been done in the first place, before the 75% back-in? IMO, Teck got the bulk 75% for a deal, in terms of control, time, Liard, pounds in the ground, price, lands, port, EA at least 60% done, NTL, etc. for a small down payment of $24M with additional $40M at their timeline and convenience.

We did the investments, work, took all the risks (and continue to do so), etc. and they get to enjoy their financial security and getting the luxury of deciding when the macro environment is stable enough and better improved to commit??? And, what if the economy doesn't improve for 2-3 years? Great business logic, IMO. We are really sticking our necks out there so Teck gets a win win all the way to the bank for 20+ years to come. While CUU longs have been hanging around for years with no end in sight anytime soon.