I think MES already gave an excellent summary of the situation including the answer to your question right below: Thank you to both Prospect and Chunkytoast. Finally two posts that explain the situation. This is why the clock hasn't started yet and that's why they mentioned additional drilling in the NR. If Teck does not accept our PSF as bankable then we will have to continue drilling to prove some more value. I don't even want to think about it, it could take another year or two. Elmer failed this time and that's why he is so nice to Teck. Now, Teck will accept the PSF as BFS only if we accept their offer. We will have two options, except the low offer or wait another year or two to prove some more value and that will put Teck in our situation where we don't have to accept even their high offer and sell our part to somebody who will collect the 25% of profit forever. I hope Teck is aware of this, but this is all just my opinion.