There is a lot of speculation of a possible Teck take-out deal being done without the BFS ever seeing the light of day. I can't see it.
Even if Teck and CUU were to negotiate a 100% deal, it would still have to go to the shareholders for a vote. I realize the insiders own control, but politically, they will take it to all the shareholders for approval or risk an action by disgruntled shareholders who may feel we haven't received full value. And how will we know what full value is until we see the BFS? Any such vote would be after the revised resource estimate with the BFS in hand.
Once the BFS is made public, and the details of the Teck offer is on the table, it will cause the Big Boys of the world to either decide to enter a counter bid, or pass. There may be a few larger mining companies waiting for an entry point into a safe mining jurisdiction with extra long operations life, huge further exploration potential, a low cost of production and a realtively quick capital cost repayment I still think we will have multiple bidders for this new mining district in the end. Management will want the information on the public table to ensure we get the best deal, and Teck can't dispute this because all shareholders have the right to vote on any deal. and must have access to complete info to make their decision. I doubt anyone will vote against CUU insiders, but it will ensure that the best possible deal if struck for all CUU shareholders.
It will be an interesting few months.
