I just listened from about 23 minute mark to the end. Sure sounds like he has Schaft on mind. The long life, political jurisdiction and the poly metals (he didn't mention other metals) fit into what he is saying about an attractive project for teck.
Interesting he mentioned that they are subservient to their partner in the oilsands which sounded like it drug them into spending timelines out of their own control. His discussion on valuing jrs is very applicable to the CUU situation and insider ownership.
After listening to it once again, I think these musings from Mr Millos lean more to the buyout scenario than away from it. Of course he can't even begin to touch on the stuff about the positives that SC has (i.e. ports, easy engineering, low environment (fish and acid rock), dvanced project development and very large, ongoing exploration potential.
The part about cleaning up the mess (putting a finished mine to bed) is interesting. If SC goes for 21 yrs and gives them all that time to find more minerals to mine so they never (at least not for a long long time) have to close down then that is a big plus. Closing mines is expensive and a sunk cost that has no return in the end except keeping you out of court or the public eye. Closing a small, short lived mine probably cost more per tonne mined than a massive, very long lived mine.
I think this was a bit of prep for Teck shareholders to at least get them thinking about what a good project (like SC) might involve and how to score it. I think the statements about insider ownership resulting in higher buyout prices are a bit of prep for both Teck and CUU and that they have to meet somewhere in the middle.
jmho
