You moved up from the doghouse to a boat?

Or we demand our 20 million for a mine decision. Dropping EA, etc does look like a decision has been made :)

Actually HH and Golf, you are both correct. It does make for an interesting conversation. Has anyone seen a project bought up at a price that is higher then a companies share price? I can't think of one right now. But I also haven't seen a company with such a high insider ownership give up things cheap.

For instance say the numbers show SC is valued at $1.2 Billion(Just picking a number). But our share price is .16 a share. Normally you could do a take over and offer to all shareholds say .32 which is a big premium and just take the company over. But since EE and insiders hold the majority, they would need to set a price that makes them agreable to selling off the entire company. Are the insiders willing to fold up shop for a multiple of our share price or do they just sell off the property and keep chugging along?

That is what makes sticking around here so much fun.

Well I've been wondering about that. If they spin off the jv as another company I'm not sure it would show on their books.... I'm no expert on this, but the jv is written up like they created a new company. It that is case could Teck not just provide the seed money to get financing. The books would show they invested x amount into the company but the debit would be under the company and not roll up to teck :)

Really it isn't all that different then what we are doing with the eaglehead site.

I originally brough this up because I keep reading around here that Teck would buy us out because we are basically dead weight. But really we are holding up our side of things. Its just we are letting Teck roll our portion up into a nice neat package with all the other finacing required.

It could also be the reason our portion of the liard shares are still being held in trust :)

Yes slide 41 says that but read the jv agreement start at "Funding" on page 21.

(a) Teck needs to offer to copper fox to use all reasonsable commercial efforts to arrange projet debt financing for not less than 60% of the project......

This is one of the reasons I believe the discussion of a Teck buyout is lower then say another 3rd party comming in to buy us out. There is no skin off Teck's nose to roll everything for the project into one big fiancing.