I doubt Teck would ever make an offer since they have all the leverage. The ROFO protects them in case we get desperate and sell SC for whatever we can get for it. It's up to Elmer to deliver now. Otherwise the market will interpret he can't. The negative bias comes from a complete inablity of Copper Fox to execute their stated business plan of monetizing assets in the seven years since the JV was signed. Shouldn't investors have some expectations? It's not a fan club.