Mike said that the degree of Liard transfer would depend on the percentage of CUU taken by Teck (as we know). He went on to say that the value of Liard wouldn't become apparent for a number of years - I said I wasn't so much concerned about Liard's value as I was in the symbolic value that transfer of Liard shares would provide as an indication that the agreement was being followed.

Hard for me to get to the same place as Prospekt here

First to get to Mike assuming we already have the shares and answering a claw back question, that is still a bit of a jump for me

I read that as him saying that, like the joint NR, the number of shares we will get depends on what Teck decides, then they will distribute

I think that is a more believeable interpretation, and certainly would require that those changes be written into a new "friendly talks" agreement

I don't mean to be putting words in anyones mouth

Conversely the intent of what he is saying is important