Regardless 400K for Carmax and our 25% of this share purchase with little money in the coffers. Makes you wonder.
This is good news. Obviously they negotiated this deal once they saw which way the wind was blowing with the optimization studies. Furthermore, they bought these Liard shares knowing they would have to pay for them 100% including our share.
We're not actually paying anything for our share so it doesn't affect our cash flow.
At least this seems to imply that Teck is anticipating a pre-production event happening.
The NR states this:
- Copper Fox has accepted its right to have the Liard shares contributed to SCJV, and Copper Fox's share of the purchase price will be deemed to be included in the Pre-Production Costs as that term is defined in the Schaft Creek Joint Venture Agreement,
We're not actually paying anything for our share because the JV states:
-
be responsible for and contribute 100% of Pre-Production Costs, without dilution to Copper Fox, until Teck has paid an aggregate of $60 million of Pre-Production Costs; and
