IMHO they scrapped the Salazar Agreement because it didn't make sense to force Teck to spend $320 Million into further exploration
Ahh, and there's the rub and my chief bone of contention. We should have forced them
because that was the leverage we had with the old agreement. If Teck walked rather than
spend the $320M we would have the Liard shares and 100% interest instead of the $.33
s/p we are now stuck with.
With that scenario and 120 day timeline facing Teck squarely in the face they would never
have walked and imho they would have had to put a decent offer on the table under the
old agreement.
Elmer has never answered the question as to whether the feasibility notice was served or
better still refused to answer emails asking that very question.
Please don't tell me that it was served because they refused to answer that question.
The only reply was from Teck stating that my questions were much more material to CUU
and they would leave it to them to respond.
I'm sure some will recall as the following was sent to CUU as well and I never got the
courtesy of a reply.
Good day:
I have some questions regarding the 2002 Salazar agreement signed between
Copperfox Metals and Teck regarding the Schaft Creek feasibility study.
1 Has Teck received a formal notice of feasibility for the BFS delivered on Feb.4/20013 as required by section 5.4 of the 2002 Salazar agreement .
2 Has Teck accepted this BFS as a positive feasibility study.
3 As per the agreement Teck has 120 days upon delivery of said document to exercise
their back in options of 20%, 40% or 75%.
4 As per the agreement can you verify that the 120 day consideration period started
on Feb.4/2013.
5 As per the option agreement Teck is required to give notice of whether they intend to
pursue a jv partnership 60 days pursuant to delivery of said document which was April 5/2013
6. Does Teck intend to give notice in regard to question 5 as per paragraph 15.1 of the option agreement
Would appreciate a reply to my inquiries.
Thank-you , xxxxx xx xxxx
Retail shareholder.
I will respectedly disagree that the new agreement is better than the old. We are
completely at Teck's mercy now and if you think they will offer fair value I would
suggest some water front property in mid Sahara as more viable.
They will meet their present obligations on their time table and if Ernesto isn't
satisfied with the offer he will be stuck with his share of development costs after Teck
forks out the agreed upon $60M
Right now we are all sitting around in a circle singing kumbaya. As always jmho.
