I agree. I happened to own peregrine as well and remember the strange happenings prior to the buyout. They told shareholders that there would be a delay in releasing their feasability study and the stock tanked (down into the $0.60 range). A few weeks later is was bought for the equivalent of over $3.

Copper fox is not in a dissimilar situation - though peregrine owned their whole property. It's a lot easier for management to negotiate prior to the release of the BFS, because shareholders can't really argue what the fair value of a company is without having all of the information available. The feasibility study could be finished now or in the next few weeks and CUU and Teck are currently negotiating a price. I know, I know, they're not allowed to do that, but who's to stop them. I'm a bit of a conspiracy theorist. I believe that they were and are on track to finish the feasability study on time by the end of this quarter, and based on the results teck needs time to digest the numbers and figure out a fair price. Just my complete speculation, but I think a probable scenario.