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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Anyone getting meaningful responses?

I did talk to Mike yesterday....all he essentially kept saying was that 'they are in a quiet time'. When I asked him about the Liard shares - he did say that they have not been transferred as of yet - and we would receive a NR upon receipt. I did ask if it was a 'self imposed' quiet time - he said NO, but that the office decided it was best to do so.

He mentioned that they have a close fiendship with Teck and didn't want to really push Teck because of discussions in process.

When I asked him in regards to the review period of Teck having - 30days to make a decision in regards to the Positive Feasibility - he wouldn't really confirm that this is in effect - suggesting that these terms may be flexible - there again suggesting - why disturb their friend.

Also, when asked about the 120 days - even reading it from the website...as shown...... 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.....he wouldn't really give a concrete answer there again, mentioning the "quiet time".

The other question he did answer as a direct yes or no, that he and Elmer are blacked out.

to be honest, although I found it difficult and frustrating to talk to Mike, with some of his answers hard to accept - because they where not clear and staight forward - having to do with this 'quiet time', I do have a calmness that something big is coming our way, and when the lightning strikes - all will be good.

wish everyone the best.

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Feb 12, 2013 07:37PM
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