I'm starting to wonder if we are beginning to see the spin on this. It's not that they want Teck to walk, but they think Teck might walk and so they're starting to talk up what happens next.

I think they have to prepare for all options now if Teck is not willing to budge on price but at this point I think it`s premature to conclude Teck is walking. We are uping the ante with Teck and by preparing a very large drill program we are sending them the message "if you are not serious with your offer we will show the world what we have and then you will have to pay alot more later if you want us." If this is what happens I don`t think it will take another 2 or 3 years for us to get what we want. I think another year, maybe less, if we do a serious drill program of at least 20 - 25M to upgrade the 171tons plus drill out the Paramount and drill test all the other targets.

If Teck is smart they will come back with an acceptable offer. I see this as a negotiation tactic and shows we are not going to roll over for a low ball offer. I`d rather go for this than accept $2/sh now. If EE is smart he will call Teck`s bluff. We hold all the cards here, not Teck. If Teck doesn`t play nice with us there are plenty of other players out there that are very interested in acquiring this property. ES told me there are other deep pockets out there that are waiting in line to do a joint venture with us so we don`t need to dilute further. Everybody is just waiting for Teck to make their move first.