I don't know....last time I spoke with Cathy she said she expected the production decision before the buyout. That surprised me too.

Typically the optimization study results are released updating the FS information. Then the company either opts to continue exploration or they announce the project will be moving from the exploration stage to the production stage.

I'm certain they don't have a deal already arranged.

With the recent problems at Mount Polley I was looking at Imperial Metals. They have that producing mine in BC and are about to put Red Chris into production. Even so their stock price dipped down to $8.65. They have about 75 million shares outstanding and that would make their market cap $648,750,000. That was with the catastrophe of the tailings spill, of course, but that is less than we are hoping to get in a buyout.

I think Teck might just be safe in publishing an optimized FS, and even announcing a production decision and still we might not have our stock rise out of reach or higher than our buyout expectations.