"An important part of the discussion has to be the meagre ammount they paid for the 75%.

Whatever they pay us, it will still add up to a bargain priced acquisition, in their own backyard"

Factually this statement is incorrect. Copper Fox Metals never owned Schaft Creek mine as they had only a "working interest" in the property. Teck always owned this deposit and created the "option agreement" to reduce risk and improve overall costs for property development. This agreement was a strategic plan for Teck to gain the maximum benefits in connection to value of a promising property. Copper Fox Metals only exists for the purpose to explore and develop the Schaft Creek property with the hope of having an "equity interest" in a world class asset in a safe geopolitical jurisdiction. Since inception, this was the sole purpose of Copper Fox when they became a public entity and this plan was a positive development for Copper Fox shareholders as they now have a major miner in Teck as a partner and an 25% equity interest in a large Copper mine. Teck always owned Schaft Creek and it is their right to own 75% interest in the asset as the "option agreement" was a creative tool that allowed Teck to reaquire the proerty down the road once the asset obtained maturity in its development. We do not view Schaft Creek as "a bargain priced acquisition" for Teck because they always owned it. The property was borrowed to Copper Fox to explore and develop and in exchange if the end results are positive we (Teck) will give you (Copper Fox) 25% interest in the mine for your services. Copper Fox was contracted to complete all the developement activites for Teck. It paid off for us as we control 25% interest in the deposit and that value is worth a great amount of money once sold. In the end, Teck did not pay a "limited amount" for the 75% because they always owned it and Copper fox had a "working interest" only for all these years! Mind you, to get that 75% back they needed to spend 350 million but we got other protections in return to replace that clause.

Elmer states in his president's message to shareholders which got me excited:

"Copper Fox plans to look at various strategies in which to monetize its 25% interest in the Schaft Creek project in 2014"

Let us hope he is right but I still think 2015 may be the year to sell as alot still needs to be done before we get the value we seek in price levels. If we are asking for over 1 billion, we need to file the EAA and wait until Teck announces a production decision which shows the project will be developed and Teck is progressing with production plans. Teck should make that decision once they know the results of the 2014 joint venture program. Maybe even a revised BFS is coming to show the improvements of the project's economics which we know is very possible.