"Wait - what does this mean? That we just go ahead and mine it without Teck doing anything/making a decision and they still get paid via Liard?
I didn't think they could do that."
The paragraph below is the backout portion for CUU, if Teck and CUU fails to come to a financial agreement on the sale of Schaft Creek to Teck. Expiry date in this case is DAY 121 (unless Elmer wants to give Teck a few more days. But he better send an email or NR to notify the shareholders of the extension, before the sp nose dive thinking there is no acceptance by Teck.
12.1 Except in accordance with this section and sunject to Teck Cominco committing the whole of the Property (or any portion thereof) on Salazar's behalf as security for required financing pursuant to Sect. 8.3(c), Salazar shall not transfer, convey, assign, mortage or grant an option in the Property or its rights under this Agreement. If Salazar wishes to sell its interest in the Property or to assign its rights under this Agreement, Teck Cominco shall have the right of first refusal, which shall expire if the Back-in Right expires without being exercised.
