I would hope for a scenario along the lines you described
I cannot imagine Teck allowing it to go forward in that fashion
They will be in the strongest negotiating position, if they use the Copper Fox anxiety to monetize after all these years, to go for the total buyout of the company
I think it will be difficult to turn down, say a 6 dollar offer, for all the interests if Teck elects to go that way
All of the findings to date are tantalizing and certainly hint at massive deposits to be explored, but Teck will be motivated to clean up all the loose ends in one fell swoop
My guess is that they will want to consolidate the region, take out all of those bothersome terms like Liard ownership and the Copper Fox JV and it's inherent problems, and have the area explored for future development under their control
I am sure they will consider the original terms with Copper Fox to have been poorly considered and will not repeat those mistakes again
My hunch is Teck negotiates to buy us out, totally, and then may offer to retain Copper Fox to explore the area in a manner that wouldn't provide the gotchas they have to work thru now, and they will offer a decent price to get there
