Could it be that Teck is already in receipt of the BFS and that the clock has begun already? The appointment of Elmer to the Laird board might fit into this scenario would it not?

Well one thing is for sure they (Teck) know it's coming...in any event Elmer would have been in power. They didn't do it last year...they did it in Dec this year...just before Jan-Feb.

Once they have the control...Elmer will bring along his trusted group (Ernesto, David,etc)....maybe even someone from Stifel...who knows.

The JV is formed only once Teck has earned it's interest.

9.1 Upon Teck Cominco earning an interest the Property persuant to a Joint Venture shall be formed

CUU is the operator until Teck has reached a 40% minimum interest.

Again, the only way Teck will get control is by giving CUU what they want.

Imagine the risk Teck is taking if CUU sells it's agreement and control to one of Teck's not so cooperative competitors.....