Ahh, actually, yes, I do. There is no evidence that Teck approved the 2012 FS. Although it appears to us that this project is shrouded in secrecy which some of us interpret as "something's cooking", current indications from both Copper Fox and Teck are that they continue to Optimize the project, have not started early stage developments, have not submitted an EA application and have done only a minimal amout of drilling per year. Teck has been doing essentially the same with Galore for years and years on end...

That is not why Teck owns 75%. The ownership percentage, although matching the Salazar agreement option to acquire 75% through $360 M in spending, is actually the result of a JV agreement that was NOT triggerred by the Salazar agreement, but rather one that simulated ownership end results of one of the Salazar options. The News Release clearly indicated that the the JV was formulated outside Salazar. This does not support the contention that the 2012 FS was "approved" as contended in your post. If the 2012 FS was approved why are the Schaft Creek Reserves not included in Teck's list of reserves, like that of Galore?

Capable of bringing it to production; yes, but again, we can look at what Teck has been doing with our neighbour Galore. Essentially Optimizing for years and years without any indication of moving to production.

JMHO

There is no evidence that Teck did not approve the FS. This is how I see it. If Teck didn't approve a FS done by CUU, why on earth would they give us $20 million + 25% interest in the JV?

I don't get why some people who thinks just because Teck didn't spend $360 million as per the Salazar agreement, FS wasn't approved or even delivered. The JV based it on two parties who both acknowledge value in SC and wants to move forward with it.

As for Galore. I think there were a lot of risks involved with this project. The tunnel. Rivers that flow to Alaska. Costs uncertainty. 50/50 jv where your partner wants to sell. Even if you want to build, but your partner can't afford it, what would you do?

The current JV is checking off a lot of risks. Since we don't have any tunnel or waste problems, it's mainly on costs and how to build this mine with the least amount of financial risk.