Good post DumDum, your avatar name does not do you justice IMO.

As I see it we have an interesting position evolving now with Novagold's decision to sell up their stake. Teck will play hard-ball and get best bang for their buck in their 50% stake in Galore Creek, meanwhile CUU BFS will be released by end Q112 assuming no more delays.

Novagold investors get to vote on March 28 to decide what offer they wish to go with, see link below:

http://www.theprovince.com/business/Teck+mulls+next+step+with+NovaGold+stake/6196238/story.html

So, we end up with a perfect storm for Teck, they get to decide where to put their recently freed up capital ($4.4billion cash based on unaudited 4Q11 earnings), they have potentially additional cash from the Galore Creek 50% stake sell-off...so IMO we may see another delay unless Teck agree with CUU to stop fine-tuning the BFS and release it, kicking in the 120 day clock. It will all depend on what Teck sees as their best ROI option. The BFS is key to that decision and I suspect that is why we've had so many delays, CUU is playing ball with Teck and that is a smart decision.

For me that means we may end up as far away as end-July before we see the ROI we've all been waiting for on CUU if Teck goes for the buy-out. They are a very shrewd company (you don't make $4.4billion without being this type of animal).

It Teck do not go for CUU buy-out then even better for us all, just means a longer investment time frame. This scenario will be most intersting to see how it plays out and who the new potential suitors will be. I'm sure they're watching on the sidelines with intent. I also would not rule out a joint venure if Teck still likes Galore Creek and keep ploughing money into other investments such as Fortescue in Australia (link below):

http://www.theglobeandmail.com/globe-investor/teck-buying-shares-in-australian-iron-ore-producer-report/article2336738/

Global macro-economics will impact our final buy-out price but not in a huge way, we're valued on numerous factors such as pounds in the ground, extraction rates, historic commodity values and forward projections, the world is not going to stop turning and the signs are all there that the economy will resume once the next correction has been applied. The early signs this year is that China and India are not shutting down so we will still have demand. Just look at Kitco's LME copper invetory levels to see that.

So, what if CUU do not like the Teck offer, do we keep on drilling, relying on EE for more spending money and PPs, further stock dilution etc. etc. etc. I think not, EE and ES and all the other influential parties will decide the best deal for us and take it.

I still think we are in good hands with CUU management and BOD and a lot of the behind closed doors negotiations are all to our benefit. Simply put we will get more money back than we put in, how is that a bad thing? If you want a bigger return in the short-term then that is your choice, but with the upcoming market corrections being postulated by various posters and the media you have to decide what risk level you are willing to accept and what time frame your personal investment strategy is.

For me I'm just sitting back and watching the show, learning more each day on how the junior comodities market works to help me make better informed decisions with future plays.

GLTA

Max