If we are making some guesses as to what might happen in the next few months....
No drilling at Schaft Creek in 2013. The 171 M tonnes will be left for the JV or new owner. Since we have a good idea of where it is, and the grade, spending money to move it into M+I won't really add that much value for us. Much of that 171M tonnes is at depth/periphery of the main pits and lowish grade so it won't do that much for the NPV either.
Since we didn't drill any of the other targets (i.e. the 100% CUU owned targets) last year when we had ample time, I don't see why we would dilute and drill this year and wait till Aug/Sept for our first results.
They put together somes sort of exploration programme for Arizona. I imagine some field surface sampling stuff is going on about now and that will be used to direct a Titan type survey before any drilling. Such a small area and depths may not warrant aerial magnetics.
I think the 120 days has started and may have started sooner than Feb 4th. CUU never gave any real date or declaration about when the FS was delivered but had the full length copy since Dec 21st. A month and a half seems like a illogical delay. I don't care how many pages or printers they wore out.
Teck will back in before the 120 days is up but probably not too long before. The past pace of developments speaks volumes for what to expect. Cuu will let them hold the Liard shares till they make a decision.
I don't know what to think about buyout/no buyout. The insider ownership may make buying it too expensive even to get the Liard shares back (or keep them). Teck earns in for a big percentage, sells part of it/brings in a partner. Teck holds a big enough stake that they are still able to assert themselves in the 'district' and be able to negotiate any Galore synergies from a fairly strong position. CUU shops the remaining portion hard after the final EA submissions.
After the earn-in/buyout dust settles, CUU gets serious about exploring the remaining untested targets at Schaft in 2014.
Lawyers pocket a big wack of cash throughout the process.
This is all pretty much a big, uneducated guess.
glta
