TMO,
The simple answer to your question is, Copper Fox is not ready to sell their 25% interest in the Schaft Creek asset. Management has not put up the official "for sale" sign on the property. This mineral deposit is still being evaluated and developed which means this is not the right time to sell as great value is still being unlocked with every achievement and objective completed.
Elmer stated many times this is not the right time to sell especially in these market conditions. There is also the corporate objectives and strategies that we are not contemplating.
Maybe Copper Fox is waiting for Nova Gold to be sold first to see what value they obtain through their asset sale. Maybe Copper Fox will wait for the 2014 drill program to conclude, then use the 2013 and 2014 results to incorporate the data into a new revised BFS. Maybe Copper Fox will wait until the Schaft Creek project acquires the EA permits to bring maximum and intrinsic value to the shareholders in a future asset sale.
The point is, we are not ready to sell nor is it the right time to relinquish our ownership of the mineral asset. Once all improvements and strategic plans are implemented Copper Fox and Teck will have turned the Schaft Creek deposit into a beautiful swan from an ugly duckling.
I got an email exchange recently (tonight around 8pmish) from Elmer in regards to a particular topic I asked about which I am proud to say I may be correct in my assumptions which would be a very positive development for all shareholders of the company.
Also, stay patient and rational, let Teck keep adding value to our mineral asset at no cost to us (this is a very rare story of a resource development company improving and adding value with no capital expenditure associated to its corporate plans)! I believe we are staying for the 2014 drill program. Time will tell if this is true.
