Teck buy in option
I just contacted IR and talked to Jason M.Smith re.the buy back proceedure. He confirmed the 200+ million goes directly into the project. None of it goes to CUU as any form of payment.
when TCK exercises it's option and backs in both companys will then begin a new round of negociations to plan the furure of the property and how the 200mm will be used to advance the project.
after the money has been committed then TCK will be responsible for raising future funding including CUUs share.
Jason said they have already been approached by Asian investors re. their share and he was clear their exit strategy was to maximize the value, sell and move on.
hope this clears up this issue as there has been so many differing views........chunky