im hoping that friday Teck annouces they accepted the BFS... or maybe they are using this time to calculate an offer before they accept the BFS so they dont have to transfer the liard shares... hopefully this run around will end shortly... still patient but very very tired....
Exactly my thoughts. Ok here is my take on what is happening: When I was at the convention I asked MS about Teck. My exact question to him was: "Have you been approached by Teck since the BFS was made public". His reaction: Hesitation (long pause as if figuring out what to say) and then "yes, to say Merry Xmas". I thought that was a strange answer. Then I asked "When will Teck receive an official copy of the BFS?" His answer was next week. I asked again for clarification "so next week for sure?" He said "no guarantees but I don`t forsee any problems".
IMHO, I think management has been in negotions with Teck since the BFS was made public on Dec 21. They received an offer and it was rejected as too low. Because these negotiations were ongoing right up to the convention they exended the timelime for Teck out of courtesy. They are right now in neg with Teck (as confirmed by Elmer) and because of the delicate nature of these neg. we are still being accomodating with them hence the no thrills NR and no mention of Liard shares or start of 120 day clock.
Unless neg. break down then I don`t see the need for a big stick approach. Everything is on our side legally. We have fulfilled our end of the bargain. Our BFS has been vetted by the best and gone over thoroughly. Teck doesn`t have a legal leg to stand on, imo, to drag this out. Let`s just wait and see in the next few weeks what transpires. Imo, I feel we are going to get an acceptable offer from Teck soon so no need to transfer Liard shares. My 2 cents.
