The Globe and Mail reports in its Friday edition that Teck Resources chief executive officer Jonathan Price says the Canadian miner has no immediate plans to sell its royalty on Barrick's Fourmile project in Nevada, preferring to wait and see how the massive gold project evolves. The Globe's Niall McGee writes that Teck owns a royalty on Fourmile that would see Barrick pay it 10 per cent of the net profits from the mine. Fourmile is expected to be in production in three or four years. The royalty, which could net in excess of $1-billion over time to Teck, increases to 15 per cent of net profits once six million ounces of gold are produced. Fourmile has been framed by Barrick as "one of the century's greatest gold discoveries." In a preliminary economic assessment, Barrick said it could produce up to 750,000 ounces a year for at least 25 years. "We recognize that that's a valuable asset," Mr. Price said about Teck's royalty on Fourmile in a conference call with analysts on Thursday after the release of its first-quarter earnings. Teck will monitor how Fourmile advances, he said, and given there is significant technical work still to be done to bring it into production, that will affect the value of the royalty.