"At least we would have gotten all their Liard shares and 100% ownership" we own the liard shares they are currently held under Teck's trust to avoid spending extra money on transfering them under our name since most likely they will buy us out.
Yes, I agree with you that we do own our ~25% of the Liard, whether they are held in trust or not - they ARE ours. But what I was saying was if Teck walked under Salazar they have to surrender their portion of the Liard shares to us - we would have all Tecks's Liard shares and 100% interest of SC.
Hog do you not see any value in having now Right of First Offer?
Yes, absolutely! HUGE value. It is a big part of our current valuation and I am not trying to minimize it at all.
I'm just saying the Salazar protected our interests and we are somewhat unprotected now. No recourse if they shelve it.
This aggreement is in more favour towards us than the old which wouldnt of held up in a court room anymore.
This is repeated often that it wouldn't hold up in court. Teck wrote the contract, and the spirit of the agreement would be proven solid. The anti-mothball clauses in particular!
Parts of it would likely be be modified by a court (such as the 4 year clause as it would be unrealistic to be able to build a mine of this size in 4 years). It would never have had to go to court as Elmer has proven to be very reasonable to Teck, he would have of course extended it to 6-7 years without any fight at all. They even may have provided some releif to the 4x clause, but the part about walking and losing everything isn't something that expires as time passes. I'm not a lawyer though and just my opinion...
This year we will all know how fast Teck will proceed with us if they start building the roads this spring... i'm getting a little excited again...
Road building, a big 2014 drill program, an early start to drilling this year, or EA progress will all be complimentary to our SP, and any one of them will get me excited too! More they spend the better...
