If TCK earns in for 75% by spending $360M on the project, it still has $1.022B in its 'budget' to spend on taking out the rest of CUU. (i.e. $1.382B-$360M = $1.022B).
$1.022B divided by 422.1M shares is $2.42 per FD CUU share.
To add to your calculations Chappy.
When TCK earns 75% by spending $360M.
How much CUU SP will be at that time?
If there is a slip up in construction, will speculators push the SP up hoping TCK would lose this interest in the mine and CUU would gain a almost finished SC at 100%?
I don't know if 1.022B will be enough to take out CUU.
If I was Teck, I rather use that 1.3B to take SC away from CUU completely.
