I understand your point JayJ. Firstly, I agree that there is no way that Teck won't back-in on $100-$200 Billion in metals for less than the 75% option for a measily $360 million and their share of the capex.
But to properly assess the possibility that Teck AND every other major in the world would rather spend their money elsewhere (not buy out our 25%) you would have to line up side-by-side all other advanced projects that are similar to Schaft Creek and that are pre-financed to production as per the Option Agreement that would stay in place. I say 'all majors' because Teck is not the only entity that we can sell to.
There are not a lot of available projects around the world of the sheer size and safety level of Schaft Creek. So just because many early stage exploration companies are starving out there doesn't necessarily mean "bargains galore".
First things first. Let's get the Liard shares, let's get the back-in decision, and if this decision doesn't come with a buyout then Elmer will make the world fully aware what we are putting on the selling block. Teck won't like having a JV partner not of their choosing so this will place a lot of pressure on Teck to match the highest bidder and keep all of Teckland to themselves. Teck is getting 75% for a song so they will be in a good position to pay full value + for the remaining 25% and get rid of the Option Agreement.
Just my two cents.