Massive bail then in seconds a rebound of 10 cents. This will cost people to get out and they won't make anything trying to get back in. It's possible it will taper off more later but I'm not counting on it.
CUU will take a fine over this but it was better this way because it does mitigate the damages somewhat. As for Tetra... is this how they wanted the world to find out they don't have the experts to fullfill their contracts? I would think this should spark a fire in their board room. Everyone who is using them should share the impact. If outside pros have to come in to keep you afloat you're in big trouble.
Teck did want us to use them and this is looking like a collosal blunder yet again by Teck. Or is it? They clearly wanted more time. Is it possible Elmer didn't know in advance? I doubt it so he wanted more time too.
Might as well share this with everyone. From my emails to Elmer:
"Despite what I think the market will do it bugs me that we didn't and may not get a chance to explore the new finds. Were you being conservative with the PP's in the event Teck backed in or were there other reasons in addition to the quality of the drillers availible as you previously mentioned? "