Here's why:

If today's NR was the BFS and TCK took a good portion of the 120 days to announce I'd be looking at July plus the time it took to get the deal done,

or,

Today's NR is as is, RE comes out in the near future and mine plan is completed in 6-8 weeks (I'm using 12 weeks for my own personal timetable . . . no reason) and TCK mulls things over for a spell and decides the BFS will be published with Teck Resources Limited on the cover page and not Copper Fox Metals Inc. so they take us out before its release. And I'd probably be looking at July plus the time it took to get the deal done.

I'm with Donald on this one "There are things we know we don't know." And I'm fortunate in that I don't have a deadline.

However, as others have stated, I suspect something significant has changed for the BFS.

Today's NR:

The main difficulty being encountered lies with the completion of the Mine Plan, the most critical component in the Feasibility Study, which now appears to be six to eight weeks behind schedule. Due to the fact many important components of the Feasibility Study cannot be finalized until the mine plan is completed, a further delay will ensue. It is now expected that completion of the Feasibility study will be delayed until mid-late summer, 2012.

From the Feb. 28 NR:

Mine planning is a fundamental part of the feasibility study and has a significant impact on the economics of the Schaft Creek deposit. Until this work is completed, completion of the feasibility study is not possible. Work related to all other aspects of the feasibility study, except the economic sensitivity analysis, have essentially been completed.