Although Teck backing out would be good for the long term, it definitely would crush our SP in the short term. A lot of investors have been patiently waiting for a year's delay, and others have been holding on for longer. Many have picked up recently with the thought of a quick buyout.

Although the value would certainly go up, the share price would definitely plummet as sellers would dominate, especially in this macro climate. A lot of people who still liked the property would also be sellers, knowing they'd be able to buy back cheaper which would further send the SP down.

The time to find a buyer would also be a lot more than most of us would like. There's other things to consider. Although we'd be up in value property wise (100% instead of 25%) there is value in selling to just Teck - such as the financing that would have to be taken care of (already done for our 25%), the 4 year clause (that leverage would add to our 25%'s value if bargaining with Teck) as well as the future opportunities to explore the area with an option agreement. So we actually wouldn't be worth 4x more, somewhere between 3 and 4 (but in what timeframe is important to note). The perception of value is something we'd also lose from a major walking away from 75%.

I'd rather have the money now, and reinvest in the already cheap market out there, and companies that will quadruple when the market starts to rise, or the disconnect between precious metals and the miners starts to disappear rather than wait on the quadruple in SP at an undetermined time.