If Teck walked rather than spend the $320M we would have the Liard shares and 100% interest instead of the $.33 s/p we are now stuck with.
If Teck walked, you really think we wouldn't be at 33 cents? Please go look at Catalyst Copper, Teck didn't buy back in and they went from 6 cents to half a cent. 5 cents now after 10-1 reverse split.
With that scenario and 120 day timeline facing Teck squarely in the face they would never have walked and imho they would have had to put a decent offer on the table under the old agreement.
The problem is that the old agreement didn't make sense in spending $360M on exploration. If you put $100M into drilling per season, you're still 4 years away. The Liard zone and Paramount zone is big enough to start production now.
That being said, the best part of the agreement is Teck willing to arrange financing for CUU. I don't think it make good business relationship if you force Teck to make a decision of walk or buy me out attitude.
Elmer has never answered the question as to whether the feasibility notice was served or better still refused to answer emails asking that very question.
Elmer mentioned to me many times he dropped of the FS and it was Teck who quickly called him back to open discussion of SC.
Even so, Teck back in now, it doesn't matter if it was served or not anymore.
