I don't really think they have ever been in negotiations in terms of a buyout or any of the scenarios offered by the Agreement.

My opinion is that the legal stuff was being sorted out only and that it was done between legal teams of Teck and Copper Fox. I think Elmer has been in Calgary for the last little while after he left AMEBC, while these discussions were happening. That is one of the reasons that I think it was just the legal stuff. That and the fact we are being told Teck is reviewing it, and they are in a 30-day review period.

I am wondering if Teck has now retreated to Vancouver and they are having internal meetings. That would mean contact was broken with Copper Fox and so the options were allowed to proceed. (Although they are not willing to talk to shareholders apparently.)

Copper Fox management and shareholders now have to wait for Teck to tell us what they want to do in terms of their contractual obligations.

At some point, presumably very soon, Teck should pick up the phone and the real negotiations will begin. Then a company-wide blackout should be in place up until after the results are made public.

All my opinion, given the little information that we have.