I know most of this has been discussed today, but I thought I'd summarize a few possibilities in one post.

Option 1 - The Feasibility Notice was Delivered and the Contract was Met

Evidence: "On February 4, 2013, the Company delivered said study to Teck Resources Limited ("Teck"). The Company continues to discuss with Teck various aspects of the feasibility study and Teck's earn back options available under the "Teck Option Agreement" dated January 1, 2002."

Comments: If the 120 days have been extended then why did Copper Fox not announce this? This would be a material event for all us shareholders. How is it in Copper Fox's best interest to ignore the Contract? If the 120 days have not been extended, then we should now own 100% which would have to be announced in a news release.

Option 2: The Feasibility Notice was Delivered and the Contract was NOT Met

Evidence:

- Small print says Copper Fox has made "assumptions related to: the due delivery of the positive Feasibility Study to Teck pursuant to the Teck Option Agreement; the acceptance by Teck of the positive Feasibility Study as a 'Positive Bankable Feasibility Study'"

- No Liard shares have been transferred

- No official confirmation that the contract was met

Comments: If Teck has rejected our Feasibility Study, Copper Fox would get in legal trouble if they hid this info from us. This makes this option unlikely, but they have hid info from us before in the past (feasibility delays, EAA delays, negative copper costs).

Option 3: The Feasibility Notice was NOT Delivered

Evidence:

- The Feasibility Notice was never officially delivered (the Feasibility was)

- No official clock was ever announced

- No Liard shares have been transferred