I can only see one path to selling the Schaft Creek asset and that path goes through Teck. In the audio transcript from the Teck Q3 Don L. said " we are receiving calls of other companies that are interested in either buying or partnering or co -developing and that sort of thing. " .
The JV with Copper Fox and the QB2 deal with Sumitomo are great deals, if you're a Teck shareholder. We should approach Teck and indicate our 25% is available for the deals under discussion for the Satellite projects. Futhermore we would like to bundle it with Teck's portion should they decide to offer 25% and give a 50% participation like the Galore project. We benefit from having Teck negotiate on our behalf and Teck would benefit from offering a bigger piece of SC as well as monetize 25% of their portion of the deposit now rather than later(years down the road). That would incentivize Teck to get the best deal. I don't see any other good options. We don't want to sell to Teck as we don't have any leverage, so they get the price they want. If we approach a third party , they will want to talk to Teck about timing and development plans. Plus we don't have Teck bargaining on our behalf. We've seen the results of Elmer's deals. The bad news is that we won't hear anything about any deals under discussion, probably won't hear anything significant when the results of this years study are released, and next years SC spending is most likely to be reduced as per Teck's Q3 report. It's going to be a long winter. Will Elmer do the right thing and get SC sold once the revised economics are done?