I agree Kinte...I think that they being extra cautious with Schaft Creek as per Jon Price's response to this question from the conference call Q&A
herbie1
Teck Resources
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<Q
– Liam Fitzpatrick – Deutsche Bank AG>: And then, on the growth strategy, I mean, you’re clearly not alone in terms of the challenges in building and ramping up copper assets. Are you still convinced that going ahead with other greenfields further down the line is the right strategy for Teck?
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<A
– Jon Price – Teck Resources Limited>: We are, Liam, for a number of reasons. I mean, firstly, the projects that we have in the pipelines ahead of us are significantly smaller in scale, scope and have much lower complexity than QB. So we’re also doing significantly more work around derisking projects prior to sanction here in terms of the level of engineering that we’ll be undertaking, for example, which will give us greater certainty as to capital spend schedule and execution pathways. And we believe that the low capital, relatively low capital intensity of these greenfield projects will offer very good returns to our shareholders. And to us, it certainly looks like a more attractive strategy than M&A, where a great deal of the upside can be paid away through premiums to acquire assets. So we do think it’s the right strategy.
