I think an aggressive y2 exploration budget would show the...

I think an aggressive y2 exploration budget would show the market that Teck is serious about Alacran and won’t necessarily drag this thing out for the full 5 years. The 22 May 2017 announcement noted that Teck had shared its budget forecast with Azure, but this was never made available to the market (as far as I can tell) until after exploration has concluded for the year ($2.7m spend)

I understand Tony sees Oposura and SA as projects to keep people busy while Teck does it’s thing, but I really hope the company continues to talk to the Alacran narrative over the coming year (fleshing out exploration results, drumming home ROI implications for our company etc) as this is where the market’s interest (and the greatest potential for a rerate) reside