It the 30 day stuff isn't material. You all know about it. You know the timelines (been going on and on about it for a month as we wait).

If Teck said that the FS was lacking that would be material otherwise we wait in suffering and silence.

As for the Liard share transfer, why would Teck Transfer the Liard shares to Copper Fox only to have Copper Fox transfer them back to Teck again after Teck backs in. It makes far more sence to just do a sinlge transfer after Teck decides their level of participation. I don't see the need to waste energy and money swapping shares back and forth.

Lastly, the issue of the the day is does Teck want to build Schaft Creek at this time. I don't think Rick Rule is correct about difficulties for Copper Fox specifically but as a generalization on companies in this sector I think he is spot on about the challenges facing companies in late stage development. I think Teck has folded Copper Fox into their long term copper strategy so they will move on the project.

The specific issue late stage development juniors (Copper Fox peers) is that the junior resource cycle is on the decline (maybe even formed a bottom if you are contrarian). Current demand for metals has stabilized and there is a preception that new production is not desperately needed. In this scenario majors are focussing on increasing performance, getting a return on their investments and selling non-core assets to improve the bottom line.

This is the market condition into which Copper Fox is trying to sell Schaft Creek. It is not positive however there are reasons why Copper Fox and Schaft Creek is different from its peers.

1. Copper Fox is a copper leading deposit.

As Don Lindsey pointed out in his presentations the volume of copper consumed by developing nations is more at 7% growth today then is was 4 years ago at 13% and that growth in Lbs consumed is contiuning. Combine that with the fact producton slated to come on line to replace depleted mines has not successfully made it into production due to various difficulties. This should provide strong price support into the future.

2. The option agreement commits Teck to make a decision.

Part of the agreement commits to bringing the project into production. Teck is likely deciding if they want to bring the project into production at this time. There are many in the industry (market and miners) who believe there is no way Teck is going to bring a mine into production in this environment (Rick Rule being one of them). I think they are wrong. I think Schaft Creek is part of their copper Strategy. If Copper Fox were a gold play I would say they are in trouble as anyone who reads the press can see gold miners are shoring up their bottom line but I think Copper is still an expansionist metal.

The resource cycle has turned from growth to consolidation particularily in gold. This is reflected in share prices including CUU. I think it is a matter of if Teck wants to build a mine now (back in 75%) or pass on mine construction right now (back in less then 75%). I don't think it is a matter of Teck walking but of what level of participation they want and whether or not they want to build a mine now or defer the project (becasue it is a mine).

That is what I think anyway.