Yes, we would get other benefits like financing and further cash payments, but ONLY AFTER a production decision. If they decide to shelve us for now, the 24 million is ALL WE GET. We have given up all control of the project and ownership for only 24 million. Tecks official guidance is that we are a ways down the pipe. We are not even on their copper section of their website. Could this be smoke and mirrors - hell yes! Can we count on that as a given...
Good job pointing out the good and bad side of the JV.
It was discussed here that if we followed the Salazar and that Teck has to spend $360 million, it will be on exploration. If Teck wants to back in 75%, why as a partner, do you want them to spend that amount of money on exploration and no on the construction cost?
It's almost if say you want to own part of my new house, I'm asking you to spend majority of the money on architectural drawings and not on the actual construction cost. Doesn't make sense.
As for Teck shelving us. What difference does it make if we CUU owned 100% of SC? If Teck doesn't see SC is worth developing, then who will if we owned 100%? If Teck doesn't think a project in their own backyard in BC isn't worth it, do you think CUU is able to build a $3.2 billion mine?
The JV shows that CUU is confident in the economics of SC. They are willing to give Teck the 75% and let them be the operator and find out exactly how much value is in the ground when they do their work.
