RE: thoughts on NEMTrajan, I agree, I don't think it is to buy SGF, or at least not exclusively. It probably really is about the hedges.
Some possibilities:
1) Buy SGF. I doubt it, although I could see them being interested in buying more of SGF or of the properties.
2) Sell their piece of SGF to another major, use the money to buy or explore more gold properties / companies. I doubt NEM would have been so involved in this, so recently, to turn around and dump it. On the other hand, if they can sell it for more enough than they bought it, well, that's what their merchant banking arm was about, no?
3) Sell their piece of SGF to Pierre et Seymour Ltd., use the money to buy or explore more gold properties / companies. Same comments as 2).
4) Steady as she goes. Keep working with SGF and turn this into a massive diamond mine.
I see likelihood in more or less in order as 4, 3, 2, and 1.
Two comments on Teck buying into TAH. I was in TAH, to my regret. (My regret is not in being TAH, but getting in and out in the wrong direction. Buy high, sell low is bad. There were several opportunities to trade it profitably, which I missed. Better luck next time.)
First, buying a piece of TAH for $30mm is cheap tuition to diamond mining school for them. Teck is interested in diamonds; it has interests in other diamond plays, but is not a diamond miner, yet. They spent $30mm - peanuts to them, they have billions - to have access to a recently started up, operating diamond mine, to all the exploration, startup and operating expertise. If TAH goes belly up, they essentially have first dibs on the expertise and the equipment. And in the end, there is the (faint) hope that there is an economic diamond mine in one or more of the other kimberlites.
Second, there is the possibility there are metals on the TAH properties that Tech could mine.
So, if they follow option 2, then Teck could be the major that buys this from NEM.