Hello, for 4 months every time I asked you questions about the pea shaft creek you always told me that it was planned in the very short term, however still no news. Are shareholders important to copper fox? Can I really know what is the problem that is still delaying the release of the nounelle?Don't you find it strange that when we are told that the relationship between TECK and copper fox is excellent and that you have been working together since 2013 on this project, different percists still?An answer would be really appreciated .....Is there a new different or the PEA is very bad ???

Morning xxxx, well I don’t really know what further intelligence I can offer you. I consult to Copper Fox although I have known this group of people for many years. I believe this PEA has really been a lot bigger a challenge than anyone would have thought….not really from a technical standpoint but from the financial and pre-tax/post-tax standpoint. The task has brought a lot of new variables into the equation than anyone might have considered at the start. And really the royalty and net profit interest sides of the process has really taken a lot of time to really understand since those agreements were signed in the 1960’s and 1970’s. Even at Teck no one is still with the company when those agreements were originally signed, so there’s been a lot of back and forth to reinforce the understanding of how those agreements fit into the financial equation when completing the PEA and it has taken a lot longer than originally thought, and really that’s what it amounts to. I do believe we will see something very shortly.

Cheers,

Colin