"Teck is clearly an insider by virtue of their control of the JV. They can legally acquire cuu shares as long as it is disclosed"

I agree with Prospekt - Insider trading is defined by the government of Canada:

http://www.parl.gc.ca/content/lop/researchpublications/prb9938-e.htm

"Insider trading has been described as the purchase or sale of a security of a corporation by an “insider” who has knowledge of confidential information about the corporation that might reasonably be expected to affect materially the value of its securities and that is not known by other security holders or the general public. The definition of an “insider” of a corporation is very broad, and varies depending on the context. It generally includes directors, officers, and significant shareholders of the corporation, as well as others who, in general, may have access to the corporation’s “inside” information."

IMO, if Teck has access to inside information of CUU, by this definition they would be considered an insider. Potentially that would include Teck's directors, officers and significant shareholders as well. Prior to the JV, there was a consensus that Teck would only have to disclose if Teck's total holdings exceed 10%. Assuming they have insider information through the new JV, disclosure would not be more stringent.

Calvin