Agreed for the most part. 2 things though:

1) There's no reason Teck has to be so nice as to give us a decision before the drilling season runs out. It would be nice if they did, but on the off chance that they weren't backing in - it doesn't matter to them if they give us a "no" or "no-type" offer. It wouldn't effect them. I'm not saying they'd gut us like that, but there's also no guarantee.

2) The things you said may only lead to a backin, not a buyout. This is the thing that "worries" me in terms of making a decision at that point. One of the biggest investment reasons was the timeline aspect (lol...that worked out well). If 120 days comes and Teck backs in...well then what? Do I wait for a buyout after the drill season - Will that even happen? Do I just sell at that point? How high will the SP go if Teck backs in? How long will that momentum last if at all? The timeline aspect of this investment becomes much foggier and we become like many other juniors with JV's if Teck only decides to back in.