A notice was a formal, legal document in all of the resource deals I've been involved with. Copper Fox delivered a formal notice to Teck in 2007 for the earn-in of the direct interest as published here: http://copperfoxmetals.mwnewsroom.com/manual-releases/2007/10/Copper-Fox-Announces-it-has-earned-a-70-Direct-In
The notice defines what you are asking for and by what means you have earned it, as per the contract. There was a requirement in the contract to deliver a notice to Teck to earn the indirect interest as well. It would state that Copper Fox has fulfilled the conditions to earn the indirect interest, what those conditions are and that Teck has 120 days to decide if they wish to exercise their Back-in Right. Elmer said explicitly in the webcast posted on the company website in late 2012 that Teck would "be on the clock". It was part of the reasons I invested. Handing over the BFS and list of expenditures does not convey or define anything in a legal sense. It's water under the bridge now but many of us thought we were "on the clock" until the June 5 press release. Documentation is extremely important in business deals in case there's a dispute. Then the first thing everyone grabs is a copy of the contract, and a lawyer.
