I suspect that CUU probably did make an offer and that might be what Teck was referring to when they made mention of potential deals that were way more than they were willing to pay.

Complete speculation, but I'll bet CUU said, what if you give us X-dollars for our share now. Then Teck said, "that's too much, unless you can prove up the resource" to the east of the paramount zone. Then we can sit down and renegotiate. I imagine if we see something in the near term it will be after the drill results from the 10,000m program are back and both parties have had time to look at the numbers.

That seems like a likely scenario to me.