It's pleasantly surprising to see the sp buffeted by selling and yet holding up. I was expecting a hard run at us right up to today. The short position reflects the reality. This is the bottom of the curve in the development cycle for a deposit. If we hold our value through this it will be amazing. The fact we are still talking past expected news dates is a good sign and the shorters recognize that too.

Should we get a positive response from Teck in the next 2 weeks this should appear as a life raft in a swirling market. (The flushing sound is in everyone's ears). What remains of the hard core gamblers should come to roost here as they abandon other bets. This may result in the sp going up in fits and starts. The sp will come under heavy attack but as it's a last resort for people in an aweful market it should plow its way upward.

The fact that we have not heard anything today means we are a willing partner. The pressure is coming off while we wait for the Teck option news and our JV.

Technically, when this milestone passes today the company is required to report to us that Teck has not indicated it's option and that they are in violation of the contract or that a posponment has be granted. This clause doesn't have a silence mode. If however, the rules went out the window and we are in the middle of something great then under the "best for the share holders agreement" we will hear nothing until it's ready.