You guys are taking this out of context.

Question to Don Lindsay was acquisitions in general, what are his views of it?

He said companies with large insider ownerships won't sell unless it is a high premium. So basically he's saying they won't or prefer not to acquire an asset that demands a high premium.

Well...Teck owns 75% of Schaft Creek already. They are the operator. They acquired a large percentage of the asset already.

It is in Teck's favour to acquire our 25% interest because of the financing condition in the JV. If not, Teck doesn't have to buy us out. CUU can easily sit through production and collect $113 million a year after capex is paid back. Or some other big miner/fund can swoop in and buy our interest.

Teck/CUU JV relationship is more like Rio Tino and Ivanhoe back in the day. You have a big miner funding the operations and you have the small guy following along. I think their JV was not as advantageous as CUU so we are slightly up on that. (I think Ivanhoe had to issue shares to fund their percentage of the construction??)