Who says Teck has to spend the $3B to build the mine. Buy our 25% for say $1.5B, (approx $3.60/ share) turn around and sell 49% of it to another major for $3B leaving Teck in control and only having to pay $1.5B to develop it and the other major pays the other $1.5B.

Also people who say they will not build a mine because the copper prices are down ask yourself this:

Would you rather build a mine now and in 4 years be in production when copper prices rebound or would you rather wait 4 years until copper prices rebound and then waste another 4 years building a mine? It's just like paying for the renovations of somebody elses house then buying it from them after its complete for a significant premium......it just doesn't make sense.

With the NTL being completed this summer I just can't see Teck wasting time while there is power available which is a massive cost savings on the capex.

JMHO - I am in till the end.