RE: selling will look over done...I think that Teck was just placing an insurance bet because they dropped the ball by not renewing their claim when it expired. Trying to find any reason for them to buy more, even at these prices is difficult when the results don't indicate an economic discovery.
OTOH, maybe we are all being played by EPL, PV, et al. The area around here has been explored before, so it's possible to locate some low-grade areas first with the objective of driving it down to buy it cheap.
Just remember that PV was nosediving a few days ago and it looked good at .90.