BFS has been delivered to teck. Yes I would agree
The clock has not officially started however, Teck's 30 days review is. Where has this been made official - I would disagree.
In the official new releases it doesn't say any thing about a review period...unless I have missed something.
the NRs say...
Feb 7.....On completion of the Feasibility Study, Copper Fox earns Teck's 78% interest in Liard. Teck's earn back option to acquire either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek Project is triggered upon delivery of a "Positive Bankable Feasibility Study" (as defined) to Teck after which they have 120 days to make a decision
Feb 4.... On completion of a "Positive Bankable Feasibility Study" (as defined), Copper Fox earns Teck's 78% interest in Liard. Teck's earn back option to acquire either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek Project is triggered upon delivery of a "Positive Bankable Feasibility Study" (as defined) to Teck after which they have 120 days to make a decision. Should Teck elect to exercise its option for 75%
Overview of Schaft Creek Project
Teck's earn back option to acquire either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek property is triggered upon delivery of a positive Feasibility Study to Teck. Should Teck elect to exercise its option for 75%, Teck is required to fund subsequent property expenditures up to a total of 400% of those incurred by Copper Fox ($80.8 million to June 30, 2012) and arrange for project financing, including the Copper Fox portion.
Pursuant to the Option Agreement, Teck may at any time elect to exercise its earn-back rights, on receipt of a Positive Bankable Feasibility Study, a defined term in the Option Agreement, Teck has 120 days in which to elect to either: i) exercise one of its earn-back options,
For me, the way it is worded....i would say the count down is on....yes there is going to be discussions, which i would hope so. The sooner they get talking the soon we will be able to celebrate.....
wish every one the best!!!