Thanks for your note. Not sure where 0.10 cents for additional lands comes from. I will be the first to admit that I am not a geologist, however, when Elmer was asked about this on the teleconference call, he felt that the studies supported "a trend" to what we has been seen in SC in the surrounding lands. Given that Elmer confirmed that the BFS only contemplates less than 1 per cent of the overall land package and that the overall potential that the remaining land represents in continuing the "trend" I think it may be unwise to put a hasty price tag on it without more information.
Putting the whole offer together is going to be complex. What about the negotiated agreement for the Port of Stewart? What about the electricity access via the NTL? What about the parcels of land which are not contemplated in the back-in agreement? What about the recognition of the fact that the majority of company shares are held at the board level and that Teck is not in a position to launch a hostile takeover? Lastly, what about the recognition of management's efforts to develop the project and bring us to where we are today?
Copper Fox doesn't have to accept low-ball offers. We are in the cat-bird seat. If we don't like the numbers we are offered, we can simply let Teck carry us to production. I will be the first to say we need to management our expectations going forward, however, I don't think that this means we will roll over to accept the first low-bid that comes along. In fact, there is a part of me that it looking at what the enormous upside of us being carried to production.
See you at the bell in the morning:)
