As I have posted before, what if Teck has asked us ( Cuu management ) to extend them some undetermined amount of time so that a partner could be brought onboard. If that is the situation, then what really could management say? Unfortunately, right now our best shot of a buyout rests with Teck so do we play ball with them while unfortunately keeping investors in the dark or do we just tell them to shove it as we have an obligation to keep our investors happy at all times? In the end which course ultimately benefits all shareholders?

I hear what you are saying cbew, but if Teck needs more time, why can't they just draw up an ammendment to the agreement changing the 120 days to 240 (or whatever)? If both parties agree it shouldn't be a big issue. We would not be in the dark and likely our SP would be higher and this would provide Teck some protection too.

What do you think of this possible scenario if we assume that we are giving Teck a verbal time extension:

What if the 120 days passes and another major such as BHP offers us a buyout? How would Teck's interests be protected if there isn't more than a verbal agreement for the extension - they could be seen in the courts in default of the agreement and we could pay them their $1 million in shares and say see ya... BHP would have a good legal team.

Do I think this is likely - no, of course not. But it shows the other side of the argument that Teck would want their interests protected if they are going to push this past the 120 days. As shareholders we should know the agreement is being bent too. Transparency on these kinds of issues are only fair. Negotiating details - no we are not privy, but changes to the agreement - I think we are owed that.

Imho, I believe management is doing their best to reach a successful conclusion for all shareholders. I know many here and on SI are saying they are not and are ultimately working in concert with Teck or some unknown entity to drive down the sp. I ask you how does this benefit them or us? What proof is there that this is happening? On the contrary if this was the case then why did Elmer not readjust the last PP to reflect the current sp? These conspiracy theories just do not make any sense in light of the lastest PP, which again was mainly financed by EE at a sp 30% above the market. Do you think EE is nuts to throw away money like this and not demand a repricing of the PP?

I too hope that management is doing their best, but the lack of clarity does cause the mind to wonder (mine anyways).

The fact that the PP was not repriced is a BIG DEAL, and does a lot to support your position. That is a strong point that I have no arguement against.

I guess frustration sets in when I see my investment wallowing with seemingly no intervention by the company and seemingly no interest by the company to clarify anything for us. It's like we are being attacked by a bear and Elmer has a gun but won't shoot...

The last NR about spending our PP money on Arizona was a great opportunity for them to add some clarity, but they didn't and I guess that pissed me off a bit. That, and spending our dillution money down there instead of focusing on the deal at hand or using it for summer drilling got my back up!

Furthermore, if you don`t believe anything management tells you over the phone then just watch what they do and not what they say. What has DM, an inside director, done over the last few months? He has steadily accumulated over 500,000 shs. He has never accumulated this many shares in such a short time EVER that I can recall. Doesn`t this tell you something? Doesn`t this tell you that all the conspiracy theories spouted over at SI all baseless and unfounded. In my simple mind this tells me that the 120 day clock is ticking, that the FS has been accepted by Teck and that we are getting down to the wire on a favourable decision. My 2 cents for what its worth.

Yes cbew, DM's accumulations definately do put a very positive spin on this.

I don't know if I agree with you that it renders all the contrary opinions baseless.

In all honesty, both sides to the story are baseless and unfounded, unfortunately communication from the company is not their strong suit, and we are left endlessly speculating...

Wouldn't some simple clarification allow you to sleep better? I know I sure would.