No, my understanding is Teck has 60 days from receipt of BFS to agree on the JV and 120 days from receipt of BFS to make their offer final. JV decision has to come first before the 120 days. So yes, Teck has to make JV decision soon. NOT 120 days followed by 60 days for JV.

Yes, that was what I thought too until someone asked this question to Elmer on the webcast after the Dec 21 NR. I sure like to know who drafted this agreement because it`s caused nothing but confusion!! Statements from management are confusing, this agreement is confusing - man will I be glad this gets wrapped up soon. That`s all I`m going to say about this. :)