You say the resource decreased like that was a bad thing? When is it bad to improve the economics? The pounds in the ground didn't vanish. You seem to question the Titans and drill results and magnetics. Why would you expect an increase when Elmer said he was going to a higher cut off to improve the economics? I don't get it. That is at odds with the stated facts.
There are 7 areas. They do conform to the proven results. We are drilling them. We do have a gold zone. In fact, there are 2. These are being drilled. Should we find serious depth we will know the true value right away. Yes, it will be up to someone else to find the full scope hence many months.
No, we don't have to prove every pound. Teck won't give us a decade to do it. They only require enough evidence to satisfy themselves. Is a partial buyout an option with a huge spinco? Yes. Is it likely? Not really. I think they will take the lions share of the district and leave us the North and Mess Creek to prove up.
You don't seem to have a clear picture of how this must be sold. We basically have 1 area proven. So, do we get no credit for all the other areas? Do we just get credit for 150 meter shafts around the drilled area? Somehow I don't think so.