So Teck is regrouping on its QBME application in Chile. Although the feedback from regulators isn't detailed, the article reads like Teck will take a year to consider this feedback and submit a revised application. This is certainly significant news for its flagship project, and the SP took an appropriate hit over this yesterday. I like to blame Don Lindsay for all things that go sideways for QB LOL.

So, where does this leave us at SC? This setback was not anticipated by Teck. Does the importance of SC suddenly rise internally at Teck because of this? Galore PFS deadline just extended. SC is actually ahead of Galore if I understand the stage gate process of mine development correctly. But Teck will want SC either all to themselves or with another partner (e.g. Newmont) before bumping it ahead in the pipeline. Will the QB and Galore setbacks/delays finally be enough to lift the optimized, low-cost SC project/district to the point where the deal with CUU gets done? A newly-minted Teck Metals will need some good news to announce when the coal deal gets done, hopefully before Christmas.

K