Here's the quote from Mike Smith about the shares after feasibility:

"Upon completion of the feasibility Study Copper Fox will have a 100% working interest in Schaft Creek and an overall 93.4 interest. The remaining 6.6% interest is held as a Net Profits Interest by Liard Copper Mines Ltd. We calculate this NPI does not participate in the project revenue until years 10/11 after production. Thus, should Teck elect for a 75% earn back, then for the first 10 years revenue is split 75%/25% between Teck and Copper Fox and subsequently 70.5 Teck and 23.35% Copper Fox."

I don't think that Teck is concerned at alll with transferring the Liard shares in particular. I don't follow that logic at all, the shares can just as easily be transferred back.

They have a much bigger problem staring them in the face after feasibilty: they have to arrange the project financing if they opt for 75%. To do so they need a rock-solid feasibility. Even if they buy us out completely they still need that financing and would use the feasibility we produce.

In a sense they are buying the feasibility. The minerals in the ground are worthless (or very little speculative money) without that feasibility proving they can be mined profitably. The feasibility proves to their investors and their financiers that there is a mineable project.

Given that, it makes sense that they perform a rigorous due diligence before they buy it. The upside to us is that once they approve it, everything else falls into place because we have our saleable project. Then Teck has their once-only decision to make, and it is beginning to look like they might be contemplating making an offer for the whole BC claims. The more stringent review of the feasibility, the more interest they must have in the project.