They would control 100% of the project and could afford to give away 25% to do a good drill program to upgrade the 171M tons plus do an extensive exploration program on the untested areas.
Wouldn't this be the same net effect of Teck opting in for 20%, or thereabouts? What they seem to be saying is that if Teck is not interested in this deal they will find someone else for the same deal.
It's a good idea, I would think. if the new partner was as good as Teck would be for our stock price. However, it seems unlikely that Teck wouldn't take this deal themselves when someone else would. I guess the question would be how much money would they commit to putting into the project to earn their 25%?
