This is an interesting read on how Teck is dealing with one of their junior exploration partnerships. They are getting out of this deal but they've kept their finger in the pie, and they seem to be trying to find a way that the junior can manage. They also talk about what happens when the project is good.

“Taking big positions in juniors is a formula for smart business, and traditionally this is how Teck, Noranda or other companies operated,” he says. “Once the project gets really serious — as it happened with Equity Silver Mines and Endako, for example — Placer Dome made them wholly owned subsidiaries and took all the other shareholders out in a friendly transaction.”

http://www.northernminer.com/news/teck-strikes-deal-with-lorraine-copper-on-bc-property/1003745291/