They are setting it up so if Teck makes a decision to come in they can just take over the drilling.

How do they plan on paying for this if Teck walks?

Plan B was to find a new partner to take a percentage and pay for the drilling, but that would take awhile--it doesn't seem likely they could find someone within a month or two. Elmer told me he would hire a company to sell the project if Teck walked. The DD alone would take a long time.

The only other option is another massive dilution. They would need to have all this organized quite soon so they can schedule the drilling companies.