IMHO, this was more valuable to them for us to spend the money instead of on the 171M tons ( which they will likely do when they get 100% control ). Now if Teck people wanted us to do this are we going to tell them - Yah right go to h*ll because we are going to do otherwise and spend the money here on the 171M tons and upgrade the resource. Do we need to create an adversarial relationship with them if they are trying to evaluate this district to offer us more money for it in a buyout?

But we could have spent money on both...it's hardly adversarial to prove it up. That's our job...I just don't see why you would "accept" that it's there, opposed to spending a few million to MAKE SURE it's there, especially when you're going to spend the money ANYWAY to do it. They really shouldn't have that much say in what our drill program is as long as it's within the contract.

I'd like to add this . Teck didn't aprove of the infill drilling because they didn't want to pay 4X the cost of the drilling . They can do it themselves while they're waiting for the powerline . So in summary , Teck wouldn't approve of the infill drilling and we didn't want to spend our money with no 4x gaurantee .

Still don't buy it. What's to "approve"? And even then for us, unless they're going to pay 100% value, why would we not do it...Why would Teck pay 100% for it, when there is still the risk that it might not all be there. They can't that's irresponsible of them. If you listen to the call, Elmer even says he doesn't know how the inferred will be valued - even when asked what sort of percentage it may hold.

I do agree that we will get some value for it, but I have trouble seeing why Teck would pay full value for it, and why CUU would not want full value for it.