Quite the board.What's with all the bs today?
Sorry Legger that you are in that position. Could happen to anyone especially when delays happen. I've done the same thing in the past myself where I wished I didn't count the money before it was in the account. Delays are normal, annoying, and uncontrollable. The reward gets closer everyday.
I still say news on Monday next week. Teck is playing the game now delaying a decision on the news. Remember, after the BFS, teck has 120 days to decide. AFter that they have to build a mine in under 4 years. Considering you cannot build very well throughout winter, the best time to release for the BFS for Teck would be Feb/mar so they can start building with the most amount of good weather. They will do anything to delay the BFS until then. Copper Fox wants to release in Aug to give Teck the least amount of time to build and therefore the biggest chance they take a smaller piece (and we get a larger one). Finally we have the RE but must choose the best direction.
I believe the delays are a disagreement between Teck and Copper Fox over the direction of the mine. Both companies must deliver the best direction for their shareholders, both of whom have different needs. CUU wants to sell, therefore the quickest payback for their potential buyer is very important, which means less pounds but higher grades. Tecks investment will be paid back much quicker because of the way the financing is structured (they get all the profit until our financing is paid back). They are looking for long term production and tonnes of tonnes of metal to impress their shareholders. Both companies are looking for different needs causing a disagreement. After the RE decision is made on which RE to use, (Rumour I've heard is we have 3 versions) Copper Fox can move forward quicker with BFS.
Sucks about the delays but don't count the money before we have it. Delays are unavoidable in regards to 43-101 and Feasibility studies.
GLTA