I wouldn't count on drill results to create a pop in the share price, not for more than a day anyway.

Seriously, people, let's recount some history here.

The BFS was supposed to be a huge catalyst for us. What happened? Our share price tumbled.

The announcement that Teck was backing in for 75 per cent (one of the best possible scenarios) was supposed to create enormous upside for us. And the result? We jumped 35 per cent during the trading day, only to give back most of it the next trading day.

This is a byproduct of the extremely ugly macro picture for commodity plays. Some of the junior miners I watch have produced amazing drill results. None of it has produced a lasting increase in share price, only a temporary blip.

That said, some drill cores from the Paramount zone with good numbers may well help convince other possible majors sniffing around to go ahead and make an offer to buy CUU's ownership in Schaft.

There is already an incredible volume of pounds in the ground. If the materials sector was hot, we may have seen instant action or multiple bids for Copper Fox's holdings. But the macro factor is putting a real damper on things. M&A activity has slowed. Who knows how long until that turns around?

I'm sticking it out because you just never can tell when a NR will be issued announcing that CUU has agreed to sell its position. It could happen tomorrow, or next year. I just wish we had a stronger metals market to stir up greater interest.

I realize Schaft Creek is about the future -- five, 10, 20, 50 years down the road. But not many majors seem to be in a hurry to scoop up valuable assets right now, especially not at a premium.

It could still be a long road ahead.