RE: Why Teck sold Pebble to NDM, Part 2Yes, the decisions at the end of February will be most interesting, however none of them look like providing the only thing that will keep Pebble moving in 2005: cash, and substantial quantities of it. At around $5/share they will have to sell quite a few million new shares to fund the 2005 expenses and all of that means dilution for existing shareholders. Building a mine in a location without roads or infrastucture is a very capital intensive process; even getting a feasibility study complete will involve many manhours of high-priced people.