| | | As I've said before, I believe every one of your points are valid considerations and each would impact in some measure on whatever deal was finally achieved
However, none of them, in any combination, or in total, can explain why we didn't simply give Teck the FN and deliver the BFS
The only thing that makes sense is the fact that upon delivery, Teck was obligated to convey the balance of their interest in the project to CUU
They would have maintained their back-in rights and could have negotiated pretty much the deal we would up with if it was the duster you claim
..if CUU, while in title to what they had earned, could not find any other taker for the project at a better price than Teck was prepared to pay at the expiration of the back in period
We essentially shut out all potential buyers and gave it to Teck for zilch, plus a handful of beans
..and we can speculate as to whether there was serious attempt to demonstrate an economic mine per Salazar on the property thru the series of questionable, but expensive surveys that would seem to be of far greater benefit to the developer than the explorer
That stack of surveys might have been of interest to another taker as well
It is, as Elmer told us, a porphyry district
Teck got a hell of a deal on that real estate
..even by BFS standards |
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