A good portion of the PEA is based on the 2013 FS.

Many changes were done in the mine design that now require further drilling to confirm per example that the land is able to withstand the infrastructures in their new locations.

It's my understanding that when so many significant changes are made, you have to revert back to the PEA stage and build your way up again.  It doesn't mean the project is regressing.  In fact, it's more the opposite based on the results provided up to now.

All this being said, the current PEA was probably the only way for Copper Fox to update it's shareholders with the progress made accross the years.  

It's also an official and probably the only 43-101 document that Copper Fox could request to asses the current value of our 25% publically.  After, the board can determine if it's worth to stay or not in the JV.  At that point, we can call it whatever we want, it's sufficient to end our journey with this project.

IMO.

MoneyK