RE: deal deadline
materialsgirls said...
I understand 2 things
1 Management has never released an absolute date when Teck had to decare its plan
Am I correct?
2 Based on filings someone calculated that D - Day was something like June 04 which is only a few business days away.
Am I correct?
?????
mat
I say... Yes....and maybe.
Copper Fox files Schaft Creek FS paperwork : 2013-02-04
The company has delivered a copy of the completed positive feasibility study to Teck Resources Ltd. Teck is reviewing the feasibility study and is discussing with the company its earn-back options available under the Teck option agreement dated Jan. 1, 2002.
SEDAR MD & A 2013-03-27
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.
120 days from Feb 4 is June 4 so we should expect a decision IF the feasibility study (FS) is considered bankable. I've asked IR when the FS will be determined bankable (or not) but I have not received an answer. I was also wondering what would happen if they made the bankability decision at some point after June 4. Would the 120 day timer be reset so Teck would have another 120 days to decide? If not then would a later positive bankability determination mean Teck has to also immediately decide whether they will exercise their earn back option?
The soonest we will hear Teck's decision is June 4... the latest is whenever!
I'm sure this message will get burried in the noise soon enough but thought I'd share anyway.
Cheers!