Copper Fox has been pretty clear all along about what constitutes the value of the project, and how this is determined. I assume a discounted NPV somehwere in the 5-8% range will be realistic, unless they depart from the PFS. From the website:

The value of a mineral project has two major components, the Net Present Value of the mineral deposit based on a feasibility study and the value related to the potential of finding additional mineralization. Copper Fox identified four aspects of the preliminary feasibility study that would have a direct impact on improving the economics of the Schaft Creek deposit. These are: i) "a higher-grade" starter pit, ii) increased daily milling rate, iii) reduced capital costs, and iv) a realistic resource estimate geared toward maximizing the economic return/benefits of the Schaft Creek deposit over the life of mine.

http://www.copperfoxmetals.com/s/Corporate.asp

- the BFS will answer component one, and the MIRA's and new drill holes will hopefully tell us something about the second component (i.e. finding additional mineralization). This second part is a lot harder to put a value on imo - it will depend on Teck's confidence in Elmer and the very partial data on the new zones. A few good drill holes this summer should help component two ... very eager here to see if we can hit anything close to 1% Cu eq. We'll see about what magic can be worked on the BFS economics for part 1 - not holding my breath for reduced capital costs, but higher grade starter pit, increased daily milling rate, and realistic RE should all be in play.

I wonder how the team Cam Grundstrom has pulled together is doing "tearing apart" the BFS (in its draft form), to make sure there are no mistakes or holes in it? Glad Cam has some operational background, and with a 225k TPD operation too, which might be close to what CUU ends up proposing for the Schaft Creek mine.

Cam Grundstrom, B.Sc. Eng.,
Position: Vice President Operations

Mr. Grundstrom joined Copper Fox Metals in 2007 and brings over 20 years of mine design, development and operations experience. He has been involved with, and responsible for, the development and operation of mines on two continents. Most recently, Mr. Grundstrom was the Mining Coordinator at BHP Billiton's Ekati Diamond Mine, where he was responsible for mine operations. In addition, Mr. Grundstrom was the Mine-General Foreman at Placer Dome's 225,000 tonne-per-day (gold) Porgera Joint Venture in Papua New Guinea.