I did some more digging this morning.

"Teck Cominco can back in at any time up to 120 days after receiving a positive feasibility study to the extent of 20%, 40% or 75% of the Teck Cominco direct and indirect interests earned or deemed to have been earned by Copper Fox by funding the next costs of the project to the extent of 100%, 300% or 400% respectively of Copper Fox’s qualifying costs into the project at the time of back in;"

From what I understand, there was an amount (400%), but no timeline or guidance on who decides how the money would have been spent. 

"Teck Cominco, if it elects to back in for 75% of Copper Fox’s earned or deemed interest, must use its best efforts to arrange a minimum of 60% of project development costs in the form of debt and if it cannot, but elects to put the project into production, must provide Copper Fox’s 25% share of such costs as a subordinated loan recoverable preferentially from Copper Fox’s share of cash generation;"

If I understand this properly, this means that if Teck would have elected to build the mine and financed 60% of it, Copper Fox would have needed to fund 25% of the remaining 40%, therefore somewhere in the 320M range.  I wonder how they would have managed to finance this 320M+ without selling a portion of their interest?  And how much were other majors willing to pay in 2013 for our share, when 25% was worth only 128M?

I keep hearing that the previous agreement was way better, but in my opinion, there's was also so many ways we could have lost most of our interest (if not all), before Schaft Creeks actually makes it to production.  Personnally, I much prefer the current agreement in terms of protection.

https://www.copperfoxmetals.com/site/assets/files/3662/final-schaft-creek-pea-dec-2007.pdf

MoneyK