Basically Ernesto knows what the company is worth and so does Teck so they won't give a low ball offer. He believes Teck won't play around because another company could jump in as well.

Thanks for the update 604DD. Yes, that's the sense I too got from Elmer when I talked with him yesterday. Imho, I think we are all going to be surprised by how soon Teck acts to take out CUU. If I were Teck I wouldn't want to lose those Laird shares to my competitor either. They have to make their first offer a good one ( enough of a premium imo to make management jump and say yes yes let's get ur done now. ) No playing around. Just offer something we are not going to say no to.