The JV agreement specifies that any production decision be based on an approved FS. The FS prepared by Copper Fox does not appear to be "approved" as far as Teck views it since they did not indicate acceptance of a positive FS within the time limit in the Salazar agreement and haven't booked any reserves from SC for either copper or gold.

I think it is a moot point either way because, regardless of what the JV states, if Teck wants to make a production decision nobody is going to stop them. If they want a new FS, then they have the option to move forward with that plan and probably nobody could stop them doing that either.

More to the point is what the Environmental Assessment office needs. For one, they would need an updated AIR that details the plan. I would imagine any substantive changes would have to be made within that document as well.

I wondered if they were instead going to cancel the current EA and start over with a new project. That way they would come under the new rules as well. Someone else did that recently.

So I'm looking to see if the JV announces a plan to update the FS which would be carried out next year at Teck's expense and separate from the annual work plan.

I'm looking to see what the work plan is for next year, given we already know they want further drilling (which is a great disappointment to me.) I'm particularly interested in seeing if they have any Early Works budgeted for next year. These are expenses that don't come under the category of exploration. For example, road building would be Early Works and is possible to a limited extent because of the permit that already exists with Galore Creek.

Would building the road, that everyone has been clammering for, have a greater effect on the stock price than an announcement of a new FS? I think it might cheer me up quite a bit.