IMO, the only date that matters legally, as to when Teck received the BFS is Feb. 4, 2013, which is when receipt was acknowledged by way of the NR. Any other date does not matter. Therefore, the deadlines of March 6, 2013 for 30 day to review, April 5, 2013 for JV, and June 4, 2013 for 120 days remain as legal deadlines per Option Agreement. And yes, Liard shares should have been transferred to CUU on Feb. 4, 2013.

"Maybe I'm spinning myself around but CUU's wierd communications on when or if exactly that 120 day clock has started leaves some theorectical room for the notion that the clock has been ticking quietly for longer than everyone thinks. In my simple mind I can see keeping the exact moment of day zero (of the 120 days) could be an advantage fogging the estimate for the last day when teck can elect to earn in. Exact reasons for fogging the exact delivery date presently escape me. "

I don't remember who posted after the Toronto Show, but I recall he said, Mike said: "what makes you think the clock hasn't already started?"