Hi Liddy, just some suggestions below.
Elmer, Would you mind if I recorded this conversation? I have so many friends and family invested in CUU who are upset with me and bombarding me with questions, I'd like them to hear your response directly.
As far as I know it is NOT illegal to record a phone conversation. It is simply not admissible in court as evidence unless they were told in advance and gave their permission to record. Personally, I woudn't mention the recording, it will only put him more on the defensive.
5. Any chance of Teck buying us out 100%? Is that why we haven't transferred the Liard shares?
Be sure to let him know that you know just how "material" the Liard share ownership is. Aren't we owed news on this transfer given Teck's absence of an objection to the FS by this date. Don't buy the "we need to see their back-in decision first" story. Teck has to earn those shares back and only at a later date at the completion of their required mine expenditures.
6. Do we have other suitors on the sidelines should Teck give us a low ball offer?
I doubt he will offer specifics but maybe follow up this question with questions about 'Plan B'. Ask him how much long we would have to wait for a liquidity event because of the Plan B fallback. Do they remain focused on selling asap to the highest bidder??
7. Do we expect a bidding war?
Ask him if he does not prefer a bidding war?? Would a bidding war not provide the highest probable buy-out price? If he says no or not sure, please press for his opinion as to why not.
9. Why are there no institution buying? We need a move like in 2011.
Ask him how he feels about the dilution at these depressed share prices and why the company doesn't attempt to support the market share price by sharing more Mira and Titan findings.
10. About the recent PP. Why did Ernesto not just go for the full $3M. He did not pull the plug on us did he? Did we find investors for the other $500K?
Ask: You're not going to reprice that PP are you? Given the effects of a quiet period and the lack of timely news to the market? (Liard shares)
12. What about the EA? When will it be completed?
Why are we waiting until Q3 2013 to submit? BC political power change?
13. When will BC Hydro start the Facilities Study? Do we have any connections there who could move things along faster? Their average timeline from start of study to end is about 6 months to 3 years.
How do these timelines jive or not jive with the BFS timelines? Wasn't the BFS based on the premise that power would already reach the site by Mid 2014?
15. For us long time investors of Teck, who are really worried about lack of news from CUU and concerned about current sp, what advice do you have for us?
...who are also really worried about dilution and yet more significant delays to a liquidity event.
Ask him: "Why not pay right now the contemplated BC Hydro funding-shortfall capital charge of circa $80M per mine and get 4X eligible expenditure coverage by Teck?" (Okay, half kidding about that one.)
