As I understand it, we have not delivered the notice because:

If TECK was required to deliver the Liard shares they would have to pay taxes

If TECK was required to deliver the Liard shares, CUU would have to pay taxes

Doesn't actually follow. We're supposed to deliver/be delivered the Liard shares - doesn't mean we/they have to. We/they only have to pay if the shares are transferred. We can very easily waive them being transferred, or at least defer the transfer (and defer it entirely if we're bought out).

That said, although I used to be on the side of taxes being the reason - I'm less sure now. Given Lindsay's recent comments. I'm thinking if even on the lower end of 800M-1B - why quabble over a few million in taxes? Pretty sure the bid/ask is probably more than 10% right now between them if there is actual buyout discussions. Taxes on Liard are probably less than 10% of what the buyout costs are...so they're more negligible in terms of what they represent as costs to both parties than the actual negotiations.