I wholeheartedly believe CUU is trying to get Teck to walk away...
I sure hope this isn't the case. All the company has ever said is they want to make a deal with Teck and get out. If they have had a secret plan to do the exact opposite of their guidance to us shareholders I would be p**sed. If true we can't trust anything they have said.
Regarding the "Plan B" Elmer touted - I don't think they have the business sense to pull it off. Elmer is certainly a great geological mind, but as a CEO he has proven lacking.
I certainly have lost confidence in his ability to generate a good return for us. Way too much "not concerned about share price", and not enough urgency to get anything done.
Not trying to leverage our agreement at all either? I realize we can't strongarm Teck into a deal, but we can at least show some strength. Let Teck know we require the Liard shares (possession is 9/10ths of the law), and that the clock is ticking.
If we get a news release after the 30 day review period for FS acceptance saying we are requesting the Liard shares and confirming the timeline for the 120 day clock - all is forgiven.
I think Teck knows already what they going to do, and it isn't harming our chances of a deal to ask for what we are owed. If anything that may improve our chances of a deal.
If Teck wants to wait longer on moving forward - then lets enter into a binding agreement for a purchase/back in with a set closure date and write up a new JV aggreement with the new terms. Leaving us in limbo hoping for a handout is inviting Teck to walk all over us, at least this is my opinion anyways.
