Interesting scenario but imho unlikely to happen with Cuu. In the CCY deal we are only talkiing about 20M ( chump change to Teck ). Any backin/buyout deal here and we are talking 100s of millions or billions of dollars. I doubt Teck will leave it to us to make that decision for them.

The more I think about this the more I`m leaning to Teck either buying us out entirely or they take 40%. Why not 75%? Well, under the 75% deal imho there is just too much risk for Teck to fund the mine to production. Whether they have 4yrs or 7rs to build the mine anything can happen to interfere with the build. A good example was with Galore Cr. Runaway costs overruns just halted the project. Can this happen here? Anything is possible. What happens if it does and Teck decides to pull out? As a penalty they would have to forfeit their ownership plus any monies spent already on the mine. Is Teck willing to take that risk?

Teck may balk at this and try to renegotiate a new JV but any JV where they take a big chunk like 75% will have to include a no mothball clause and a time limit to build the mine and it should include a penalty of forfeiture. IMHO, this is our greatest leverage we have to make Teck buy us out or else JV at a lower percentage. My two cents. Anybody feel free to comment on this.