Hi Jaf ... thanks for your feedback.
My opinion or take on this is based on evidence which makes the most sense to me.
I have not waivered from the belief that based on the longstanding relationship between Teck and Copper Fox, sharing of drill results, information, etc., that subsequently an understanding came about between the two that Teck would take us out in whole or in part provided that Elmer presented the documentation (Feasibility Study) the way Teck wanted it done.
This theory explains (in my mind) all of the events, posturing, delays, etc. that have transpired in this long journey ... where this last portion has seemed like an eternity.
It explains the sudden (and as yet to be clearly explained) stoppage in drilling last season.
It explains Elmer dropping a Feasibility well less in value and economics than expected.
Elmer and his board of directors know what they have ... they would have continued drilling if they weren't extremely confident Teck would backin or buyout. Copper Fox has been quoted as saying they had drilled enough.
It explains the lack of promotion, the lack of hype by CUU, and Elmer's confidence throughout ... including in the face of fire (conference call et el) over the less than eye opening FS we were all expecting.
The cautious, and methodical way, and extended time CUU took to get this done speaks volumes to me.
If someone told you they would give you a couple billion dollars for your business but only if you did this, this, and this, would you follow their direction to the letter?
And that it was most imperative you kept it quiet to prevent a competitor from interfering?
Teck and Copper Fox are so close to a transaction that they can smell it.
Elmer himself said they had one shot to get it right. I believe that was in reference to Teck's insistence that it be a bulletproof document showing feasibility under the most base case scenario.
As for your assertion that the CUU downplaying being ... "perceived as contradictory to due diligence and integrity in respecting and promoting shareholder value" I don't think this is unusual at all. In fact it's pretty common when two parties have such future plans.
Nobody can say a word. Shareholders are often the last to know.
The cone of silence and the mystery around this story is all about keeping a lid on the punchline or ending to this story.
I believe this shows respect for the process, and takes care of our best interests at the end of the day.
All of a sudden one day we look at the screen and bam ... we have a halt and its all over.
In the interim, CUU is wise to attend events and tell our story in a manner in which Elmer has done so in the past. Conservatively, but with a measured confidence that is characteristically Elmer.
Steady like a seasoned poker player.
At this stage of the game, with Feasibility in hand, not attending would perhaps be perceived as a clue that we don't have to.
Don't lose sight of the fact that the world is desperately searching for this type of deposit.
It is a budding mining district and a strategic asset.
All my opinion based on the same inferences we have all been privy to.
This resource is simply too big, too valuable, and in too pristine a jurisdiction to go unnoticed.
And for all intents and purposes it's been derisked and well on it's way to a turnkey setup.
You heard it from Elmer himself ... "if I were Teck" ...
I also believe there are other majors ready to pounce if Teck balks in any way.
Elmer knows this, and most importantly so does Teck.
The most prolific businesses know the most about their competition.
I maintain that we will all be pleasantly surprised at the upcoming turn of events and news releases yet to come.
There is much more to this story than presented to date.
Good things come to the most patient, and in this case I believe that will be clearly illustrated.
My advise is to hold on tight.
Mining merger madness and takeouts are upon us.
2013 will be eye opening.
Good luck to all.
