"Is it a BFS or a FS?

posted on Feb 05, 13 02:40PM

Right now a third party must be running this through a lending criteria to see if it is a BFS. The contract say $1 makes it positive but we don't have a set of check boxes that say when it's a BFS. The company has said that Teck must go through its check list. Seems to me that would be up to an independant party? We did ours, Teck did theirs and now the ref steps in. $300 million on $3 billion won't cut it. Will $500? That's too close for comfort. I suspect Teck will have to try declare it not bankable in their negotiations. It should be interesting to see what the banking industry says."