My understanding is that once the BFS was delivered the 120 day clock started. Now if Teck has 30 days to accept the BFS, its part of the 120 days, if Teck has 60 days to form a JV its part of the 120 days, not in addition to. Teck shareholders have to vote within this 120 day period ya or nay. Oh ya, Liard shares were to be handed over when Teck received BFS! ( might take time for paperwork 10-14 days or after Teck has officially accepted BFS) and NR is put out.

The BFS was delivered on Feb 4th to Teck. June 4th is 120 calendar days.