They said they delivered the FS to Teck and that Teck was deciding what to do per the legal contract. Of course documentation is important, but the contract did not call for a notice to be delivered, it did call for the feasibility and the expenses and combined they are referred to as a "feasibility notice." The contract specifies what was to be delivered to Teck to trigger the contract and they were delivered. People can't make up details that they feel are appropriate and then decide they were necessary and somehow it was not delivered.
The Company has delivered a copy of the completed positive Feasibility Study to Teck Resources Limited ("Teck"). Teck is reviewing the Feasibility Study and is discussing with the Company its earn back options available under the "Teck Option Agreement" dated January 1, 2002.
They also say this to further explain the situation,
Teck's earn back option to acquire either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek Project is triggered upon delivery of a "Positive Bankable Feasibility Study" (as defined) to Teck after which they have 120 days to make a decision.
Discussions with Teck commenced following the Company's completion of a National Instrument 43-101 technical report pertaining to a feasibility study on the Schaft Creek Mineral Deposit.
