We are expecting to hear from Teck a Definitive JV by Friday this week??? Just a minute, hang on. [Searching for Option Agreement.] Found it. And the question is? Ok, I hear what you are saying. According to that, the answer is YES. So we should expect to hear something from Tech this Friday or will there be a postponement? We sent out a NR that we are in discussions with Teck they are earning their interest back in the project, and on the advisement of counsel, I cannot answer that.
Elmer admits and agrees that according to the Option Agreement, a Definitive JV is due from Teck this Friday, April 5, 2013. However, IMO, since Elmer had to look for the Option Agreement and read that section, and seems unaware of the Definitive Agreement as was Mike Smith in my conversation with him in early March, I get the feeling that this JV is not going to happen and we won't hear anything about it. That's why he said he could not answer the question under advisement of counsel. I don't expect Elmer would bring the JV issue up with Teck. I'm hoping Teck's Attorneys are on the ball and reminded Teck of this timeline, and hopefully, Teck will on its own, provide CUU with a JV and their decision.
