My one concern....question for the board
posted on
Jul 29, 2013 09:08AM
I am hopeful things will wrap up after the drilling is done this summer, but the one concern that continues to bother me is regarding Teck mothballing this project. People have suggested Teck highly values this project, and the evidence given is in the fact that they backed in; correct me if I'm wrong, but didn't this only really require 20 mil....isn't that chump change for Teck? If our liquidation is in essence conditional on the drilling and decision by Teck, yet their is no timeline for a decision, then could this project not be mothballed years....? If they delay a decision, yes another major could take our 25%, but I just cant see anyone paying a premium for our 25% until Teck has committed to bring this to production.
Again, I am hopeful we will all be rewarded in the fall, but this concern is the one thing in my mind that concerns me.
Any thoughts from the board, TIA