http://www.veryindependentresearch.com/Letters/2012/August%202012/august_18,_2012.htm

The land of copper-gold mega-porphyries already has its share of multi-billion-dollar projects in remote regions that face serious financial hurdles. These include NovaGold Resources’ (NG-T, NG-X) and Teck Resources’ (TCK-T, TCK-N) Galore Creek deposit, with a capital expenditure (capex) of $5.2-billion; Seabridge Gold’s (SEA-T, SA-X) KSM deposit, with a US$4.7-billion capex; Pretium Resources’ (PVG-T) Snowfield, with a US$3.4-billion capex; and Copper Fox Metals’ (CUU-V) Schaft Creek, which had a $3.8-billion capex in 2008, and a feasibility study on the project that is a year and a half behind schedule

How to value SC: Compare Galore and Nova's position.

http://seekingalpha.com/article/247842-why-a-takeout-of-novagold-could-exceed-23-share

CUU may be behind but it leads in selling off. As mentioned in PM's, nothing has emerged that I can pin down but the buyers are all there. What's stopping us is the $8 price tag and structuring a deal amongst several players. (Posting this so I don't have to pm you guys)