Awesome Willy! Thanks for reporting your experience.
He went on to say that the value of Liard wouldn't become apparent for a number of years.
I say that is answer is a dodge. If the BFS says an ROV NPV value of $1.6 Billion then the value of the Liard shares is friggin' huge no matter how long he wants to wait before it is "apparent" to him, sheesh. A NR must be issued once it is earned, imo.
Mike said that the degree of Liard transfer would depend on the percentage of CUU taken by Teck (as we know).
Now this is a very interesting answer actually. This is saying that they are not going to step-by-step go through each of the motions of the Option Agreement timelines, i.e, after 30 days Declaring Bankable, then Transfering Liard share, then Forming a JV, then Election of % back-in.
Mike makes it sound like they are negotiating the whole lot, the whole end-game and only one joint NR will be issued once all has been settled. Think about it. Teck doesn't get any part of the Liard shares back until they have spent $360 million. But apparently, Copper Fox is entertaining "what degree gets transferred" at this juncture?
A buy out is being discussed accordig to this line of thought.
