To be honest, I've asked and never got a clear response - I'm not exactly sure why we're not making an offer now anyway?

I don't think it works that way. I think we get an offer of sorts from someone else, and then we submit a similar offer to Teck. Teck has 60 days and if they turn it down, we can negotiate with the other party the terms and conditions and final price but it can't be less than what we offered Teck.

To make an offer to Teck at this point would be futile since we wouldn't be able to find anyone else to buy it within the following 6 months anyway. It would also restrict us during that period of entertaining a different offer. The FRoO stipulates that what we offer Teck has to be the same or better from another party, including all the terms and conditions. I think Elmer was suggesting that it would be a waste of time at this point.

I'm sure Teck will find a buyer for us when they are good and ready, or they are already good and looking.

If, within 60 days of Copper Fox’s offer to sell, Teck elects not to purchase the Interest for

the price upon those terms and conditions Copper Fox will be free to dispose of

that Interest to a third party at any time within six months of the expiry of the time

for Teck to make an election but only for a cash consideration equal to or greater

than the cash consideration stated in Copper Fox's offer to sell to Teck, and upon

no more favourable terms and conditions as the offer to sell to Teck, provided,

however, that the sale of the Interest to the third party shall be subject to the third

party entering into an agreement with Teck whereby it agrees to be bound by the

provisions of this Agreement (including, but not limited to, the restrictions on

alienation that Copper Fox is subject to).