Hoghead, I call Elmer every 3-4 months to touch base on current events, and things we as shareholders can look forward to. My last few calls have included discussions about Eaglehead. In short, Elmer likes the project very much... says it has the potential to be another shaft creek but could be developed much quicker and likely at significantly less CAPEX. Its close to the highway and metals are a lot closer to the surface. Take it for what's it's worth, but at some point money will have to be put into this to advance it, and we have about 42% of the shares. It's nice to know that one day we might have a buyer for VD, then Shaft creek, then Eaglehead... I like what Elmers doing as this company is starting to build itself with some good projects.

Maybe he's not as concerned because he's an investor and can take his investments elsewhere if he doesn't like the geopolitical evnironment, whereas Teck would typically shell out $4b + to build a mine doesn't have that same advanatge to pull-out on a whims notice if the geo-political environment was becoming unfavorable. IMO... Teck is making investments for the next 20+ years where Rick's investment timeframe would be much shorter, therefore it would be less of a concern for him.

First, nice post Vette

Secondly, correct me if I'm wrong here, however I spoke to Elmer this week and asked about the 12%. He said we did even bother to do the FS at 12%. I had alot of questions for him to which he said we couldn't talk about because they are in discussions with Teck. Am I wrong here in misunderstanding what he said or did the FS specifically say we were not positive at 12%??

I read the FS NR but haven't read the SEDAR file.

Finally, Elmer is surprised at how many people have overlooked the fact that we are in discussions with Teck.

Thanks for in advance for any clarification.

IMO. This is now very clear and should avoid any seconded guessing or speculating on what's going on.

Nice find chunky

I just got the NR email from the company. The title states positive feasibility study where as below in about the company it states positive bankable feasibility.

Is there a difference?

About Copper Fox
Copper Fox is a Canadian based resource development company listed on the TSX-Venture Exchange (CUU-TSX-V) with a corporate office in Calgary and an operations office in Vancouver.

The Company announced the results of a Feasibility Study on the Schaft Creek Mineral Deposit, on December 21, 2012. Schaft Creek is one of the largest undeveloped copper, gold, molybdenum and silver deposits in North America. The Feasibility Study was completed by Tetra Tech Wardrop at a nominal 130,000 tpd open pit mine.

Copper Fox holds title and a 100% working interest in the Schaft Creek project consisting of 56,267.54 hectares (139,040 acres). Included in this total are the "Schedule A" mineral tenures originally conveyed to Copper Fox pursuant to the Teck Option Agreement, which consist of 8,334.34 hectares (20,594 acres). The "Schedule A" mineral tenures are subject to a 3.5% Net Profits Interest held by Royal Gold, Inc., a 30% carried Net Proceeds Interest held by Liard and, together with the additional mineral tenures obtained by Copper Fox within the "Area of Interest" provided for in the Teck Option Agreement, an earn back option held by Teck. On completion of a "Positive Bankable Feasibility Study" (as defined), Copper Fox earns Teck's 78% interest in Liard. 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. Should Teck elect to exercise its option for 75%, Teck is required to fund subsequent property "Expenditures" (as defined) up to a total of 400% of those incurred by Copper Fox ($85.3 million to December 31, 2012) and use its best efforts to arrange for project financing, including the Copper Fox portion. For full details of the Teck earn back option please refer to the Company's website www.copperfoxmetals.com.

I'd also like to send a big thank you to Elmer, Mike, Mr. E and company!
Great job! I've got faith that in all the hard work you've all done that Schaft Creek will be a mine one day