I'm even confusing myself now. I tried to edit my last post but it didn't work.

So at this point we have not earned the Liard shares and the clock has not started.

From what Metacoment is saying (I think) Teck has 30 days in which to send us notice of "which production rate the report shall be considered a Positive Bankable Feasibility Study." If Teck does not send us that notice then our NPV at 8% will, by default, be considered to be a Bankable Feasibility Study.

If Teck does send us notice at which production rate, etc., then it had better be at NPV 8% because that's all we've got.

So, although we have not currently earned the bankable label, it is inevitable. (That is I believe what Metacomet has been trying to say)

I (now) see his point and it makes sense.