I was really very happy to see the budget and work plan from Teck this coming year. Teck is undergoing some very severe cost-cutting but they upped our budget and that speaks volumes. This is such good news because they could have easily put it off a year and instead they made it bigger. It seems a clear indication that they are at least going to complete the optimization studies and maybe they'll apply for that EA by the end of the year as we all hope.

The only thing missing is maybe some drilling of the waste but clearly Teck, having done the drilling themselves in the past, knows what is there. We would have liked it though to update the FS. When Teck did the 43-101 report for QBII, they filed a request to publish a FS including the inferred because they did not have drill results for the inferred. Teck stated, "a mine plan including inferred resources within an optimized pit based on probable reserves, and the associated economic analysis, will form the basis of the Filer's investment decisions regarding the Quebrada Blanca Hypogene Project, including the decision on whether or not to commit funding for the project."

Drilling LaCasse for exploration purposes seems like quite a luxury this year. I guess they had the drill team there already for the further metallurgical sampling so they thought they would punch a few into LaCasse at the same time. Last time they drilled LaCasse they got results of up to 1.36% copper, so it should make for a good future NR.

Now we wait for news on whether VD can go straight to a PEA or they need a bit more drilling. Regardless of that decision, we have the money for drilling and it won't take long, then we can look forward to the PEA in the FAll.

We deserve a good year and things are looking up.