Copper Fox Metals Inc.

The cautionary note section appears to contain the reasons why the press release, and conversations with Elmer, doesn’t provide enough clarity on some key questions. Here are some extracts:

Teck may not accept that the delivery of the positive Feasibility Study constitutes delivery of a "Positive Bankable Feasibility Study" as defined pursuant to the terms of the Teck Option Agreement; the 120 day period that Teck has to exercise its earn back rights may not have commenced; the "Expenditures" may not constitute Expenditures as defined in the Teck Option Agreement in the quantum anticipated by Copper Fox

And another section:

the delivery of the Positive Bankable Feasibility Study and Feasibility Notice to Teck

There's been no mention of a Feasibility notice given to Teck, but one is required. It appears we are waiting for Teck to respond on a number of issues in addition to exercising the back in right or a buy-out offer. The only item that be said with certainty is the delivery of the positive FS to Teck. That would also explain the market indifference.