I'm not sure I understand these terms but if they opt to back in for 75% and therefore also have to arrange financing, I wonder if that would be even worse for the debt to equity ratio than simply buying out our 100% entirely?

Exactly, thats why a JV with another major makes so much sense than going in alone. Majors love doing deals with other Majors. They do not want some Mickey Mouse Jr company hanging around when they go into production. If Teck buys us for $1.5B (or more) then they can form a JV 60/40 for the same price... possibly higher. Making an instant profit and sharing expenses for CAPEX going forward. At the same time they have a long, long life mine producing greater %'s at depth.

On the books for 2012-2013 they still look positive. All the big boys are searching the globe for COPPER right now. Plus, copper prices could break out at anytime and rally. Which is a much higher probability than a decline.