I agree with some of your points, and strongly disagree with some others.
Definitely there is risk. I agree that Teck is the most likely partner, and if they were to abandon the project, think it would make others think twice about getting involved. Teck is in the business to make money, and if they walked away, there would likely be a good reason.
You talk about teck "committing." I believe their back-in, cash payment, and agreement to fund all activities going forward to be a sign of committment, albeit a soft one.
I think it's a bit of a leap to say that the would be "leaks" and people would be buying if there was anything going on. I've been personally invested in many companies, that overnight were bought up with no indication beforehand or any huge change in volume.
Like many, I too am less than pleased with how this has played out, but fail to see why there is so much negative sentiment in the last two days. The stock price has been floating in the low 30 cent range for some time. It appears that there's been some dumping of shares the last couple of days. 850k today, I believe 650k yesterday. That in itself is enough to drive the share price down a couple of cents. So why all of a sudden do I notice the sentiment changing? What has changed in the last couple of days in the grand scheme of things?
