"Metallurgical results is the master key in my opinion to unlock value."

Bang on. This, and the higher metal prices than were used in the 2021 PEA.

Note the NR specifies, "...that metalurigical testwork was initiated on samples from the 2021 and 2022 drilling programs was initiated."

Now we know why we never heard about those results before. Sad, and infuriating. Unless....they were done before (preliminary results, not in a report and therefore not material, done by Teck internally) and the results kept quiet.

Potentially part of a discussion that might have gone something like,

Teck: Ok EE, if you really want that price you will have to wait until Galore PFS is ready as we'll need to find savings somewhere.

EE: OK, I'll wait but not longer than 2023 or we'll issue ROFO and take our chances as we've been talking to Glencore.

Deliberate holding back of these results on the part of Teck, perhaps as discussions speculated above. As MK points out this must be the key to surfacing (begrudgingly) more value to SC. Saved to what I am now seeing as the last minute before the the Galore and SC planets align end of 2023/start of 2024.

If these results haven't been held back then its just another dollop of the junior starvation strategy. Since Elmer practically gushed about Teck in his latest video I'm thinking the deal is mostly done at this point and these results have been known for a while.

My $0.02

K