"That Salazar agreement was full of holes..."

I've wondered about the legal issues associated with that statement. CopperFox management was quoted as saying words to that effect in Bigbuck's post from the October 2013 AGM. When did Elmer know the agreement was not enforceable, when did he know they weren't putting Teck on the clock and didn't he have a fiduciary responsibility to inform shareholders ( current and future) of these matters? If I had known that the JV agreement would have the following wording " ... to further explore and, if warranted, develop the Property  " then I would not have invested. I knew from previous experiences you can't sign open ended agreements because of the risk of being completely dependent on someone elses business plan. Everything about Schaft Creek up until the JV signing was about executing the Salazar contract and developing a mine, then it all changed with no notice.  Here we are in year seven since the JV and still no signs of life. They have the new numbers, it's time to sell. Unless there's something else Elmer hasn't disclosed.