There's a lot of ways to interpret the recent events and I'm not sure how to take it and both sides are valid.
Options: On one hand, management doesn't deserve an extension because they've been terrible at meeting deadlines and doing anything on time as well as being able to support the share price - and there are things they could have done (being more clear and transparant, updating us more often, having a proper drill season, drilling the inferred in the pit - even if it wasn't incorporated in the BFS). On the other hand, I wouldn't want them to give themselves new options at a lower strike and they still want their options and believe in the project. A lot of things for them perhaps didn't go as planned and were legitimately out of their control as well. I'm not sure how I feel about them extending them - but it's mostly negative.
Private Placement: On one hand, I guess we need the money - but on the other hand, we didn't fill in a previous private placement at a higher price for the same amount. How are we so bad at figuring out how much money we need (budgeting) and so bad at time frames as well (scheduling). Pretty basic things that add on to why management perhaps shouldn't recieve an extension on their options. But at the same time, perhaps they expected to be done (and most of us here have as well) and perhaps management though the shareprice would be higher after the initial BFS release (which many of us did as well). Not sure how to really think about it. Especially when you consider that if Teck backs in, we could do it on their dime - or as others have said probably (but maybe not...) at a higher price once we're on the clock with Teck. There's also the fact that if we were at a higher price, management could have used their options and funneled cash in that way.
Story is the same, but the feeling is different. A lot of this is house keeping and does seem possible that things should happen soon because we have this out of the way. Let's see if we get news tomorrow or Friday about actual notice given to Teck and before the upcoming show.
