CUU was receiving regular updates from TT. It was when Jim Gray reviewed their findings it was felt that they needed to take a step back.

I hope they were relaying a true story here. Sounds plausible, but it is hard to know what to believe anymore, and obviously someone has been BSing along the way ... probably CUU management and TT I would guess, or else there is some real incompetence. IMO, Jim Gray should have been called in early December 2011, if not much earlier.

I only got into Copper Fox in March 2011, but the feasibility had already been bumped from 2010 to Q2 2011, then bumped to Q3, then Q4, then Q1 2012, now Q2-Q3 ...

Does this change the endgame? Not a lot (the metal is still there), but it does a bit. A key component of risk management is timelines and the longer the more variables ... I now know management cannot be trusted on timelines. Period. They don't seem capable of overseeing TT effectively either.

Still a decent play I think, but with some added risk now. It will become a lot clearer where we stand in June/July (I hope). I plan to keep a core position but look elsewhere for some gains while we watch the paint dry.

GLTA