Either in next 30-45 days we get an offer between 3-4 bucks a share, or we are told our fs in not bankable at 12% rate by teck
That ain`t going to happen because if they really want to stick by the letter of the agreement then they have to let us know we didn`t make the cut at the 12% rate within 30days of us handing them the BFS. But aside from this unlikely scenario what I think will happen is Teck finally realizes we aren`t going to be lowballed and they give us a reasonable offer within the next 30 days.
That is the only logical option they have. Why? because first of all there is no way they are going to walk, secondly there is no way they will choose the 75% option as there are still too many uncertainties in getting the mine up and running within the stated timeline, besides the possibility we could sell our interest to an undesirable partner, and last if they chose any of the opt-in percentages we will be much more expensive to acquire later on when more drilling is done on their dime. Given these scenarios there is only once choice that makes financial sense with Teck ( a complete buyout ) . That`s what I would do if I were Teck.
