I guess the real question for me is... If we keep adding value till the cows come home, and say our 25% is even worth 5 billion...
I'd love to hear the CEO of Teck explain to his shareholders why they are not sanctioning a local, easy and safe $2B-capex project with an NPV of $20 Billion.
At some valuation point the awesomne risk/return that Teck would get from their 75% of a producing Schaft Creek (despite the financing cost of dragging us along) is more attractive than the risk/returns that they could find elsewhere from 100% of a project with comparable capex to them. So at some point, I beleive Teck would have no choice but to go to production with us.
At some point it becomes complete bizarre loonie toons for Teck to keeping clinging to their jr. starvation strategy so they would have to make a move on us or proceed to production with us.
Otherwise it would become clear as day to the market (and industry) that Teck's 'obfuscate the great project and starve the jr partner' strategy was causing great harm to Teck's shareholders.
JMHO