CUU got the ''First Right Of Offer'' in there for a reason. Business is business. If someone out of the blue comes knocking (Russia, Korea, India, China, Japan,), Teck (partner or no partner) will have to assume. Then we have a bidding war.
After this round of drilling on an Untested area, the scope and potential size will change completely (proof in hand) and so will the price tag.
Vette, I love your sense of optimism, you have gotten me through some rough CUU times, and for that I thank you. As a point of interest, this joint venture seems to have caught most people off-guard as I, and others like me, believed we could expect a liquidity event. Even Mr. Stewart, a while back, was quoted as saying he was having his tax people look at the biggest tax relief either with a dividend / Teck shares and/or cash if this took place. To have to go back to the drawing board to 'prove up' further resources stretches my patience. It seems as though everything we believed in was worthless (the 2002 agreement) and has been thrown out of the window and we're starting from scratch.
Please Vette, if you have the time, could you get down to the nuts and bolts of what has happened and condense it all into one big picture paragraph - and what you think is going to happen in the next while. I need a shot of your optimism - my spirits need lifting. Many thanks, MTS
