RE: 3-wayThis is the way it works. Teck has FIRST dibs on 75% of ALL of schaft creek. CUU gets no money from teck if they exercise their right to back in for 75%. To keep the math simple, lets say CUU spends $250 million on the property, now Teck must pay 4 x $250 = $1 billion for their 75%, which goes towards the (capex) construction of the mine. Capex for Schaft creek is $3 Billion, therefore, Teck must come up with another $2 Billion plus the $1 billion back in = $3 Billion CAPEX to meet the obligations of the agreement. Now, CUU owes Teck 25% of the $2 Billion financed by teck to be paid out of profits from the producing mine. Thats 4 years to build the mine and 3 years of prodution to pay off the DEBT. Seven (7) years before CUU sees a dime for their 25%. That's the way I see it. All JMHO. This should get me a few IGGYs. Please explain why Teck should be in any hurry to Back in.