We've had a long running dialog so it's easier for me to draw on those without the guys having to explain everything from scratch.

As for why Teck might be comfortable enough to try waiting. They may feel that an interested party would talk to them first to formulate an offer. But, and a big but, supplies like this are dwindling and other majors have to look after themselves too. We have just enough control to force Teck into taking the back seat. So Teck runs a gambit. They speculate the worst is they need to take the 40% option. So they wait and see who comes to the table. At this level it's all about power and control. Teck already knows it's position with respect to what Elmer would consider acceptable.