I concur, this IMO is not a bad NR, on the contrary it's an investor's insurance clause being set up, at this stage of negotiations all moves such as extending warrants have to be by the book to prevent future claims of stock manipulation being put forward. It's also a shrewd business move to minimize potential stock dilution and higher buy in costs at a later date. It also sends a clear message that the main financial backer doesn't mind waiting a bit longer for his ROI, with or without a CUU2.

The timing IMO was to allow all investors to think about the reasoning behind this course of action and weigh up the pros and cons versus a knee-jerk reaction on the already super-sensitive SP, which won't matter any way IMO to the pounds in the ground value that Teck will have to shelve out if they want a pain-free and bidding war free deal.

As longs we are all feeling the pain of how long this is taking, but the best things come to those who wait.

My opinion is that the BFS data is so good that Teck are struggling to come to terms with the fair value buyout price, CUU are doing their best to maximize ROI for all, even at teh cost of looking like they're dragging their heels on moving this forward.

I feel for those who may have invested with tighter planned exit time lines for this play, but that unfortunately is the nature of the Venture stocks.

GLTA longs and have a great weekend.

Max