Michael reaffirmed Elmer's comment on the need for additional funding going forward but referred to it as a MAJOR financing. You can read what you want into this but he made reference to the cost of completing a JV was very expensive.

We did file that short-form prospectus that would allow us to go to the market for major financing. I think that was done so that we are prepared for whatever option Teck chooses. For example, if Teck earns-back 20% or 40% then we would be obliged to go forward with the mine as a partner with Teck until we get a buy-out.

There is also the possibility that Teck would earn-back Schaft and we would enter a JV partnership to prove up the other properties something like with the Silver Birch deal where Teck paid 50% more and left them with a retained interest.

In the same way that they locked up the shipping deal, they have to be aware of the possibilities going forward and prepare for them to maintain our investment.

It's interesting that there doesn't seem to be a drill plan for 2012 yet. It seems to indicate that they think we might not be around too long.

He went on to advise that while it would be released by the end of March, it would take up to 45 days for everything to be finalized in a form acceptable to file with SEDAR.

So from this I take it we are going to have a News Release with some of the information but not all the details until it gets filed on SEDAR? Wouldn't that give Teck some breathing room to negotiate before the market at large knows all the specifics? Those 45 days could be the most important then.