Ah YES !!! Now this is more like it !!!

Like I've been saying...4 years = impossible...

They have to take us out before backing in, or they lose eveything or risk CUU selling to another major, and that other major would make Teck fail and take it all.

Like I said the 120 days is already on...The pr has started..

Company Updates

Copper Fox

(CUU-TSXV)

Copper Fox updated the status of their feasibility study on the Schaft Creek copper-gold-molybdenum-silver project in northwest British Columbia, noting the mine plan is complete and economic analysis and project sensitivity studies are underway. The company has also engaged a second firm to conduct a peer review. No definitive time-line was given, but it is fair to assume that a number of weeks will be re-quired by the time all the various approvals are given. The eagerly awaited study will trig-ger a 120-day period, during which time major-company partner Teck will elect to back-in on the project or retain a minority interest. If Teck elects to back-in for a 70% interest, they would be obligated to fund the next $350 million on the project.

Importantly, the agreement speci-fies that Teck must place the mine into production within four years to complete the earn-in. When the agreement was crafted, that time-line may have been achievable. In today’s world, it would be near im-possible to permit and construct a mine on this scale in that time frame.

Teck has a large presence in British Columbia, with two world-class operations and its global headquar-ters in Vancouver. They own 50% of the nearby Galore project and are active on a couple of other cop-per projects in the region. It seems unlikely that they would walk away from such a large resource. Further, Teck is profitable and has large cash holdings.

In the meantime, Copper Fox con-tinues its exploration program on other targets along the trend. Some of the target zones are on property outside of the joint venture prop-erty.

If Teck does not back in, then Cop-per Fox will continue to control a very large deposit and a district-scale exploration trend. If the major does back in, Copper Fox will be in a strong position, with its partner funding a great deal of work, with control of important ground outside of the joint venture and the four-year development time limit.