Mudguy is clever with the geology but that doesn't mean he knows what will happen in the buyout. He's sceptical that there will be a significant buyout price over and above the stock price at the time of the offer. He might be right, but as someone said earlier, our stock price today is not likely the price that we will be sitting at when we go to negotiate the buy-out price.

After Teck makes a declaration of intending to earn-back to any percentage then our stock price should rise because Teck will be involved and will be prepared to take this into production. Teck themselves will want to promote the project.

At the time that Teck selects their earn-back option they might also make an offer to buyout the remaining shares. If it is perceived as being too low then Ernesto can simply say no. He can take the shares to the market to see what they want to do with our share price given Teck's decision to earn-back X%. The market will likely increase the SP and then Teck or whomever will have to pay a reasonable percentage over and above that SP.

Everyone knows our stock price today is hampered by the uncertainty with Teck. Once that becomes certain then it is game-on. If Teck wants to bypass the market reaction to their earn-back and all the other complications then they can just pay a price that seems reasonable given the metals in the ground.

Nobody knows with a cerainty today what the market will think of our project when we have Teck earning-back, we know what percentage we own, we have a decision to mine and a cost. We don't even have the feasibility so it is too early to make a judgement on the fair-market value of our stock price.