Just revisiting Webgogs highly rated post of Dec. 13, 2011 where he recounted his conference call with Jason and Elmer (thanks WG). Elmer basically confirmed as much at the Vancouver show again to me and others, roughly 40 days later. Getting closer to the BFS every day now and really just can't wait to see it, even if it there aren't too many surprises due to all the fine due diligence many have done.

Three points below that very much resonated with what I heard from Elmer at the conference. Glad to know he's consistent! The plan for 2012 drilling is not about drilling more per se, but just because planning for it is the responsible/right thing to do while one still has 100% control of the mine.

GLTA

http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/511133-cuu-top-ten-questions-and-answers/messages/1623730#message

3. The drill results suggest that we have anywhere from 300-500 thousand (napkin calculations by the retail) more tonnes. Are we in a position to maximize shareholder return or do we need to consider delaying longer to prove this up? What do you think is best?

A.It is enough data to make it an acceptable negotiation point with Teck. Teck is most pleased. You could look at it as being 2.5 to 3 billion in revenue. Going back to 408 this new data included make the total size far greater than our napkin calculations. Essentially, we could be doubling the starter pit. (My words)

4. At what point do we say we have diluted as much as we can? There is a general consensus that we would get the most value by starting the Teck clock now.

A.The drilling is done. The burn rate is as low as it can get and we have enough in the coffers to conclude the year and start next years work. We have a number of prepaid expenses that will continue to provide data and reports. We will plan 2012 just because this is 100% our project until such time as Teckcompletes the “Earn Back In”. This is an important driver in all our workings.

5. There is concern that the company could be taken private for less than the 52 week high. Can you comment?

A. Very unlikely. Everyone wants an exit.