As we approach the JV meeting I've been trying to think of our worst case scenario.

You might think if Teck showed up to the meeting and decided not to put the project into production and that they were no longer interested, it might be the worst case.

I think not--because if Teck makes a production decision, even a negative one, they have to pay us $20 million. At the same time their interest in the project would revert back to us. Also, I believe, we would get those optimizations results which would be better than our FS.

Sure the stock price would sink, but at least we would have some money in the bank to carry on and try and find another buyer. Our stock price is so low now anyway it wouldn't be a huge blow for us and there would be no dilution and we would have the whole project to sell.

Somehow, I don't see this happening.

Short of that, I guess the worst case might be some sort of delaying tactic. They might say they are going to update the FS. In the meantime, there is that BC Hydro contract that needs signing and the environmental assessment that needs submitting.

I hope they move forward with a buyout at this point, but I can't see a catastrophic event, even if they pull out (but that's only because our stock price is already so low it's like they already have.)