Another more negative (just balancing it out, don't necessarily believe everything I'm about to say) view would be that Elmer is "afraid" of upsetting Teck in any way shape or form and isn't particularly confident about the BFS.

Elmer's motivation doesn't matter. From Teck's point of view they are holding onto the shares while they conduct their due diligence. It seems a positive thing that they choose to hold on rather than move them along.

I'm assuming at this point that the feasibility has passed muster and we are on to the next phase because I think Cathie said something about how Teck's technical people had reviewed it and the lawyers and now it was off to management types. Even though the contract is not clear the intent is certainly clear. At this point I think there has been sufficient time to dispute the feasibility and now they are deciding what to do in terms of earn-back or buyout. Maybe they're only looking at Schaft Creek, and not the surrounding claims.

Our management may not be timely but Teck's is efficient enough. They transferred the claims into our name when we earned them. They also recently isolated the claims that fall within the area of interest, as they are obliged to do by the contract, and have renewed them for a year. They are obviously complying with the Agreement to an extent.