From the NR:

Elmer B. Stewart, President and CEO of Copper Fox stated, "We are very pleased with the technical progress of the Schaft Creek joint venture over the past year. The work that is currently underway relates directly to a potential initial 12 year mine life as indicated in a previous news release. Our review of the work in last Quarter of 2014 is expected to be completed shortly at which time, we expect that the management committee of the Joint Venture should discuss and approve a program for 2015."

I think the key area for discussion by anyone interested in direct conversation with Elmer is what is implied by the initial 12 year mine life. IMO this is referring to a ROI period to meet a certain IRR target, most likely determined by the major shareholder of the project (Teck). In laymans terms the minimum profit margin acceptable in a 12 year time frame achieved based on the existing drilling data and topographical survey data.

The rest of the recoverable reserves as determined by the mining plan and future drilling work to delineate the area will be for a much larger district recovery plan, hopefully with CUU long gone, but you never know...

All IMHO.

Cheers

Max