Great summary YourNadir.
I too would be very surprised to see another PP. I guess if Teck doesn't back-in (unlikely IMO) then we continue drilling although management has been quite clear all along that they are not interested in producing. They have had the foresight to make land acquisitions, port space and appropriate drillings in various areas of interest. This only helps to sweeten the pot.
I think Elmer et al are very bright - this isn't the first time that Elmer has brought a mine into production. I trust him and he knows what he's doing. He has said that he wants to maximize shareholder value and I believe that he is doing just that. There are going to bumps along the way for various reasons (delays, macro, manipulation) but in the end, I have to believe that we will be rewarded for our patience. IMO, we should at least double or triple from here but the ride will be wild. If the insiders keep holding their monster shares, then I feel confident doing the same.
The wait can be agonizing - it's like Disneyland - I just want a fastpass so that I can board the ride as fast as possible!
GLTA
