When looking at Teck's latest TD presentation:

Zafranal (80%): 

• What happens to the EBITDA after 7-8 years?  Seems to drop 50% compared to the First 5 Full years.
• That would leave Teck with: 0.6M x 50% x 80% = 0.24M EBITDA per year

Not much left after taxes?  Is it worth the effort???

San Nicolas (100%):

• EBITDA seems more stable, but at the end it's around 0.5M per year for maybe 13 years?

To small of a project for Teck?  Is it worth the effort???

Schaft Creek (75% to 100%):

• LOM EBITDA (100%) above 0.5M US (based on a very conservative PEA)
• Mine life above 21 years (again very conservative)
• Great tax credits in Canada, leaving more true profit at the end!

If your Teck, where do you want to allocate your limited ressources???

IMO.

MoneyK