Right about now the best thing for us is to be a partner. What I blogged about is pretty accurate. Elmer said we have one intention and that is to sell. The easiest way with the most bang is to be the partner.
When the market realizes this is going to be a JV they will start paying attention. When they realize this is going to be a turnkey mine up for sale things will look a lot different for the sp. The number 1 reason I've pestered them to go for the mine is this is where the most money is. Elmer has repeatedly told me there toooo much risk but now it looks like that is a possibility with a whole lot less risk. 3 years ago there was plenty of risk so commiting to that path was out of the question. Today, this is not the case.
Our portion is worth around $15 a share raw. What multiples will apply is a lot more tricky because we do have the waste issue and a bunch of unexplored areas. I'm betting Teck gives us a bigger chunk so we can give that to a partner who will develop it for us and Teck stays on as the operator. We can then sell our 25% of an operating mine without dilutions. (As per Elmer on the conference call). He was telling us this for a reason. I think the partner issue has been sorted out. I bet proof of this comes very soon. Once the wagons are circled there's no need to keep it off the radar any more.
