Before the EA. Elmer himself, apparently, recently stated that they would look into making an offer to Teck in the Spring--that would be well before the EA has a chance to get approval.

I think Elmer is going to take the drill results and incorporate them into new figures and get a valuation. Then he's going to go off and sell the 25%+ ownership. In the meantime, Teck is going to take all the drill results and incorporate them into their RE, FS calculations and come to their own conclusion. Teck may pre-empt our offer by bringing a partner to the table. If the drill results are good--this is what I am assuming will happen.

If we sell our percentage directly we are selling the 25% ownership of SC with Teck, as well as our approximately 1.5% of Liard shares that we own independently and the JV partnership agreement that we have with Teck that states Teck will pay the first $60M of pre-development costs, arrange financing for the mine, and will pay us another $40 million at milestones.