Talking with others leaves me with the impression there will be a short delay.

There's no such thing as a short delay with cuu. If they miss the target we will be looking at 2013. The stated goal of production in 2015 is also long past. In 06 we were heading towards FS. We got our RE in 07 and it was bunk. Five years later and they can't get it together??? We are encroaching on the longest FS in history! Missing this deadline sends us to the back of the line and suggests we are one of the worst run companies not in bankruptcy. I don't think Elmer is going to risk flushing his reputation down the toilet.

They will need an astounding reason to delay. If they come out and say a 6 month delay will result in 10 billion more for the kitty (insert applause here). If they say it's a technical delay... we'll hit 74 cents in a hurry unless EE supports it big time. I will buy in June if that happens. I know about 70 investors who will give up and buy SU and perhaps in June they will buy AQN.vn and BGM.vn. There's a couple other gambles that have been discussed like Silver Mountain and Happy. The smallest investor of these groups has 8000 shares.

Vette asked me what I would do. Have I changed my position? etc. No, I still plan to exit in April. If June makes a good entry point I'll take some back but nothing close to what I have simply because Elmer will have broken his word to me. I expect June to offer a number of reasonable buys. It's troubling that we are not seeing the early buying in the vn that I expect will fuel April. Two weeks will tell. If it doesn't roar to life right at the start of April that could signal potential trouble for the entire market. It would also defy logic. I.e. the EU suddenly solves all it's problems and the USA pays off its debts. In that case I think I'd go have my head examined.

Vette thinks there will be a technical delay of 2 weeks or so. I say "not going to happen". "It will be all or nothing". There's no middle ground here. All the professionals have reported in. The number are what they are. To change them you need more data. After 5 years of refining the data there's nothing else that can be done. If Teck wants this held up they will have to give us a very big carrot. I just don't see one in their tool box.

I can't come up with any other reason to delay except to get more drilling into the plan. Yes, it can be done after the FS but it technically is better to produce the latest data followed by an updated RE. This is only from the point of attracting buyers and assumes Teck has not indicated their intentions. We could decide their numbers are not good enough and put it out for all to see.

I think it was Elmer who said that he would send it back if the numbers didn't make him happy. What he didn't say and the callers didn't ask was "Who's numbers"? You have to consider the input from Teck in this matter. So it may be Teck's number that are not good enough. Stating it that was misleads by obsfucation but it is not a lie. Are we to think Teck looks at the numbers and says nothing? I highly doubt it. So it would be Teck who compells us to drive up the numbers. In this respect, there's no such thing as a short delay.

Elmer said Teck had enough info. That means they already know what it's worth. They've seen the full Titan and studied the full FS every step of the way. Therefore, any delay would be us not liking Teck's proposal and wanting to offer it up to the market. In that case we are looking at Feb 2013 at the earliest. You all know how slow we drill and how slow the labs are and how slow the FS is. None of this will change over the next year if we are intending to add this years drilling to the plan. Claiming the RE is stale and saying a mini update is being done and will be out in 2 weeks would just be bunk. Either Teck wants this or they don't. We'll know at the end of the month.

Because of this I opine that Elmer will not take that route. From here to at least 2015 the markets are going to suck. The biggest drivers will continue to be the USA debt and the EU inability to agree on anything. A delay won't give us the full gain because of this but it will add a lot. I think they have already played blinkmanship with disaster and got lucky once. I sure hope they don't try it again.

On another note. We are trying to find out about what triggered Nova to try dump Galore. In particular we want to figure out the timing. This is going to tell us a lot. Why did they have a falling out? What value does NG attach to Galore? NG did know about Teck buying iron. So did we. But, since that was announced in 09 and it's only now they bought some shares did this have anything to do with NG's decision? We found out that the road equipment was abrupty stopped so we knew there was a problem with Teck and NG. Then came the announcement to sell it. Our politicos say the district is still on but we can't seem to get much out of them. In fact, everyone seems very silent. Is vette paid by the company and suddenly pulled because of major developments? Hmmmm (lol). I knew about the land and had a good idea how long they would not be talking to us but we are into overtime now. It's too quiet.

I wanted to know about the meetings. No answer. Who did you talk to at the PDAC? No answer. I've asked about 14 questions and still no answers. Hmmmm. This indicates they can't respond to these types of questions because they would be directly related to material in hand. So none of my questions are getting answered. I take that as a good sign.

Here's an idea of the types of questions:

"March and the first week of April are the best market times and with the Teck Galore thing it seems our rush to complete the FS is compelled by these conditions. Are we trying to make this happen or did Teck request it for the obvious reasons? OTR: This seems like a poke in the eye by Nova. Do you think anyone will want it? lol. "

And:

"Adding the risk valuation method tells me that Teck has not indicated what they intend. I find this at odds with the above so it indicates you are being cautious. Will you tell us this Q what the fex plan will entail?"

In conclusion, I have no reason to believe there will be any kind of delay. I have lot's of reasons why they should not delay. I still think they should go short but if they can't for any reason then they must go very long. What would be the point of half a job? Give us our money now or we'll go away and won't look at it for another year. It will take that long for the smell to waft away. In the mean time I'll take some gambles on PLG or GSW or perhaps plunk it all down on BGM and go away for the summer. Gambling is supposed to be exciting. I just made 30% on Vitera and didn't really expect that. In the mean time the dividends from the other stuff keep rolling in. If you want us to wait that long pay a freaken dividend!