It moved on unbridaled optimism, along with the rest of the market.

That can also be said about going down on a down pessimistic market (remember Europ , Greece, bail outs etc)

To be honest, I've asked and never got a clear response - I'm not exactly sure why we're not making an offer now anyway?

What is now ? The back in just happened last week.

Here is a comment from an interview Elmer did.

Stewart should know. He’s been in the mining business for 30 years, holding the position of QP (qualified person) and in this time has helped bring on stream five different gold mining operations. “Even assuming that we could raise that much money alone,” he says, “it would leave the company highly exposed in the event of a market downturn. I already have the board’s agreement that selling our interests is the best course of action.”

In the meantime, Copper Fox is preparing the necessary licenses and permits for whoever it may be who takes the ball and runs.