For everybody who is still questioning 120 days, market regulations, delivery of FS notice... it would be way easier to understand the whole situation and the current position of CUU if you are willing to accept only one thing, just one thing..... that we never delivered a BFS.

If you check every NR and comment or conversation with our management, nobody never mentioned BFS. It's all created just here on this board. It's clearly stated in our agreement when the FS would be considered as bankable.

Even Elmer said that we are all wrong. In the beginning I was not sure who is wrong, pumpers or bashers but yeah, we were all wrong. He told me not to listen to anybody but to the official NR, and that's it, unfortunately we don't have a BFS.

If we go back, I am sure the FS was done in September. Remember when Elmer was saying how they are getting ready for the liquidity event? When they found out about FS not being positive on both 4 and 8% they hired Jim Gray to see if he could do something about it. By the way, did anybody see his signature on the FS document?

Since it was already winter they decided to release a Positive FS instead, and see if they can make a deal with Teck.

Teck DID accept PFS, and as per our agreement they have no other obligations. Because we did not deliver a BFS as per agreement, there is no need to deliver a notice, we can't ask for Liard shares, there is no 60 or 120 days and there is no breaking any market regulations. How could they break so many and still be around?

I am sure we are very close to reaching a deal with Teck, otherwise I am sure we would continue with drilling and improving our FS, we can't stop here. Teck can't stop us going forward and that's our advantage in this situation. If we make our FS bankable, Teck will have to make us a good offer because after that we don't have to accept it if it's low and then we can look for another buyer. Right now we are stuck, we can't even talk to any other potential buyer because Teck has the option to make the first offer, but only after we deliver BFS, until then we have to wait.

Also, I think Teck is not waiting for a third party to close the deal. They can negotiate with them any time after they buy us out. It would be even easier for them to negotiate once they own it 100%. Right now it could look like Teck can't even afford to buy us without a partner and it would put them in an uncomfortable negotiating position with a potential partner.

Somebody asked here why we don't sell SC to somebody else? Well, it's not our land, we only have 100% working interest under certain conditions, it's Teck's land.

On the positive side, copper miners are the only ones who are still making good money even with these prices. I am sure they will not leave so much copper in the ground at SC, it will be mined, that's for sure. And even more obvious, Ernesto will not leave his money to evaporate.

I don't have any proof for any of this, but it's just my opinion.