That bit was a reasonable assumption. After the optimization studies are done, it is reasonable to expect a doubling of the current NPV,which will put SC project on par with current TECK market cap around 3 billion and make SC share of the project worth around 800 million.

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Time will tell, but I think a doubling of our NPV is a massive assumption.

What is reasonable to one person could be crazy to another.

And that's ok. We won't know who is right till everything plays out.

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The problem with that is the moment they move forward, SC share of the project becomes very expensive and TECK might not be willing to pay that much or another major that TECK might not be willing to partner with will be able to buy SC share of the project.

They have to deal with our 25% before if they want to pay less than maximum value and avoid a potential bidding war.

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My point is that they are the operator with 75% share and don't need to buy out our 25% before proceeding.

They could easily proceed as-is with whatever partner they end up with for the remaining 25%. They got their 75% at a bargain price and with 75% they have complete control of the project - why would they care who owns the other 25%?

What's so bad for Teck if they just go ahead it as it sits? They have a partner sharing 25% of the costs but little say in the desicions. Doesn't sound like a big problem to me.