I don't think people quoting what was said two years ago informally at a meeting is material to our current situation.

I think its relevant. Reason being is that CUU management know what they have and what its worth. They know that if Teck balks, one of Tecks competitors will pounce, or a Chinese group will. Come on, this is a strategic in magnitude type asset with all the advantages a mining company dreams of.

With 65% inside ownership this is a unique situation. I'm sure they know what they want, and won't agree until they get it or somewhere close.

As an aside, EE has bought millions of shares on the open market this past year. 9 million were at 1.30, almost 2 million at 1.50, and a million at 1.60. I think he had an expectation of a good markup.

Elmer snickering at 1.5 billion recently is a good indicator of our valuation too.