I just got the NR email from the company. The title states positive feasibility study where as below in about the company it states positive bankable feasibility.
Is there a difference?
About Copper Fox
Copper Fox is a Canadian based resource development company listed on the TSX-Venture Exchange (CUU-TSX-V) with a corporate office in Calgary and an operations office in Vancouver.
The Company announced the results of a Feasibility Study on the Schaft Creek Mineral Deposit, on December 21, 2012. Schaft Creek is one of the largest undeveloped copper, gold, molybdenum and silver deposits in North America. The Feasibility Study was completed by Tetra Tech Wardrop at a nominal 130,000 tpd open pit mine.
Copper Fox holds title and a 100% working interest in the Schaft Creek project consisting of 56,267.54 hectares (139,040 acres). Included in this total are the "Schedule A" mineral tenures originally conveyed to Copper Fox pursuant to the Teck Option Agreement, which consist of 8,334.34 hectares (20,594 acres). The "Schedule A" mineral tenures are subject to a 3.5% Net Profits Interest held by Royal Gold, Inc., a 30% carried Net Proceeds Interest held by Liard and, together with the additional mineral tenures obtained by Copper Fox within the "Area of Interest" provided for in the Teck Option Agreement, an earn back option held by Teck. On completion of a "Positive Bankable Feasibility Study" (as defined), Copper Fox earns Teck's 78% interest in Liard. Teck's earn back option to acquire either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek Project is triggered upon delivery of a "Positive Bankable Feasibility Study" (as defined) to Teck after which they have 120 days to make a decision. Should Teck elect to exercise its option for 75%, Teck is required to fund subsequent property "Expenditures" (as defined) up to a total of 400% of those incurred by Copper Fox ($85.3 million to December 31, 2012) and use its best efforts to arrange for project financing, including the Copper Fox portion. For full details of the Teck earn back option please refer to the Company's website www.copperfoxmetals.com.
