Just finished a 20 minutes call. I should have called before today. She was friendly and direct to the point (no talking like a politician). She first started by saying that investor boards are full of nonsence and should not be thrusted. She confirmed that the clock started Feb 5th. They did have a 30-day grace period and they could have rejected the FS and it is included in the 120 days. She seems pretty confident this will not happen given it's in a couple of days.

About the relationship with Teck. Yes, they spoke on occasion with Teck, but CUU made all of the decisions without Teck's approval. This decision not to drill intensively was taken by cuu management only and it was to put Teck on the clock asap. If we would have drilled more, then we would have needed to update the RE and FS and although the FS would look alot better from unlocking more value, it would not have been worth the wait. They all want this to be over with but want fair value.

She said that Teck knows the real value of the district (yes, she called it a district) and that they (cuu management) couldn't be bothered with the sp right now because it doesn't represent the real value.

She sincerely sound as eager as we all are to see this get done since they are all shareholders and have money tied in. They have frequent conversations with EE and he wants this done but also wants the best possible outcome (obviously). But she also said they are allowed to take full 120 days and that this could certainly happen.

They do not withhold material information and they know as much as we do as to what Teck's plans are with cuu. So they are waiting until Teck anounces their decision. This would explain the reason why cuu might have a summer drilling plan. They honestly don't know what Teck will do.

I think we have convinced ourselves (to the point of no return) that we are so special to Teck when in reality we are business as usual and I don't think the contract scares anyone at Teck.

She said that we might be in for a nice summer.