Copper Fox Metals Inc.

I think it's just a lot more simple than this. Teck did not need to purchase the Copper Fox share at this time in order to proceed with their plans. Why pay for something now that you don't need for a number of years? They paid the least amount possible--$20 million--and can afford to wait until they are nearer production before paying any further money or negotiating any financing.

There are only two things going to force Teck to buy us out: the perceived value will increase and meet or exceed our buyout price, or, it will be time to build the mine and they would like a paying partner of their choosing.

Elmer mentioned that we might have to wait for the price of copper to rise, and that is precisely because there will be no outside interest forcing Teck's hand in the meantime. Without this outside pressure there is no reason for Teck to take any action--yet.