The optimist in me agrees.

I don't like dilution any more than anyone else BUT what I thought was encouraging was that it was for a small amount. I think this also signals to Teck that CUU is able to keep going with EE footing the bill, as we are approaching an important milestone on the long-awaited optimization results.

The fact that it was also open and not exclusive to EE lets us "in" for the opportunity. I won't be participating simply becuase I've already sunk enough into CUU for me and have averaged down as much as I can with the dry powder I had. So, I'm waiting things out and lurking here.

I balance this optimism against what Elmer is getting paid and hope that it will be worth it as things with Teck are nearing a crossroads. I don't see VD paying out anytime soon as permitting for pilot work is what's on the table there and VD won't be sold without that data in-hand to de-risk that project sufficiently.

My $0.02.

K