Copper Fox is confirming that the Feasibility Study hasn't yet received the "All Clear" signal from Teck, in terms of "Bankable".
If Teck makes no statement within 30 days of receipt of FS then the FS is automatically deemed "Bankable" as per the Option Agreement. So we're back to waiting until March 3rd.
If we hear nothing by then on the matter then we have a Bankable Feasibility Study and the Liard shares transfer over.
BTW, this particular 120-day clock conveniently allows Teck, if it wants to, the option to wait until after the May 14th BC elections to make their back-in percentage election. This "buying more time" approach could be just a good risk-management strategy or just part of their negotiations posturing. JMHO, but keep that in mind.
This leaves us with the 'JV within 60 days' clause question. Does Teck have to make just their intention to JV within 60 days of Feb 4th? Or do they have to cement their decision on a back-in percentage too? Maybe Teck's JV proposal has three possible scenarios to agree on, with confirmation of which will apply to be decided by Teck when they fianlly pick a percentage, after the election. Thoughts?
