In addition to what I said yesterday I want to be clear about some things. When I said forget about Liard shares I didn’t say that we will give them for free, but at this point Liard shares are not a factor. We are not there yet. Right now we want to see what Teck will do about accepting our FS as bankable. Once they accept it, it will be a different story, then we can talk about 120 days and Liard shares, but for now we have to wait.
If Teck doesn't accept our FS as bankable, then we will have to continue to drill and improve the numbers to get positive at 12%.
Right now, because of snow, we can not start drilling, probably for another 2-3 months, so that’s why we are not forcing Teck to make their move in 30 days, but if they don’t say anything in a month or so, we will announce our drilling plan to remind them that we are not going back, we will not give up. Right now our best interest is to give them enough time to accept FS as bankable.
At that point we can relax. After that we will have 100% control over our 25% , and I am sure Ernesto and others will take care of the rest, not only because of us but because of them. And the good thing is, they have the same interests as we have.
Do not panic if you can wait. Our only risk at this point is time, in case we have to continue drilling to improve the FS.
I can’t go over every good thing about CUU, but I am sure Teck has no choice but to buy us out 100%. In that case, we can give them even 122 days. You don’t have to agree with me, even my wife doesn’t.
My buyout price target is still around $3.