Your talk with Elmer confirms some things I've suspected for a while. There is no timetable that CUU is aware of for delivery of the optimization work. Normally Teck files a technical resource report on all of their projects before they proceed with any development. It also forms the basis for booking reserves since it is equivalent to a feasibility study. It also appears that EE is prepared to support CUU with cash via some PP when they run out of cash. Consolidation is unlikely and would be disastrous without an asset sale or something else very positive to support the post consolidation share price. Some were expecting EE to "do something" but the fact remains that, as the main shareholder and a member of the BOD, he would have been required to approve the JV terms and conditions as well as the cash back. The average volume has been unusually high for the last three months compared to the second half of 2015 given the lack of any significant news on the horizon. While I can think of positive and negative reasons for it I've come to the conclusion it's mostly bottom feeding on a stock close to its five year low. While an asset sale is possible it looks like we have to depend on an external event to kick start the share price. Thanks for sharing an update from the AGM.