You're giving the market too much credit. Most people will glaze over the complexities of things like the Liard share transfer and what value it posses. Rick Rule didn't even mention Teck when he spoke about us, let alone anywhere near the details revolving around the agreement itself and Liard.

Anyone who's following the story already knows, and anyone who isn't won't know the significance. I don't see Teck getting particularly more powerful in negotiations the further things go. Could you explain why you think this?

An actual backin will let the market know we are for real, as will obviously any buyout offer. The liard transfer will do nothing. Just like MIRA, the RE, the FS and all our other false deadlines were supposed to bring us up. The market isn't in the mood for uncertainty. They want a sure thing and will come in as soon as they know Teck is in.