Eighteen cent share price?

Prior to the JV announcement with Teck CUU shares were sitting around 59 cents, then vaulted up to about 88 cents on the announcement. In the two years since Teck has been involved they have dropped precipitously to our current level.

This might lead someone to conclude that Copper Fox management was much better than Teck has been for CUU shares.

Some people seem to think that Teck taking over has been the best thing for this stock but a rational analysis might show otherwise. I seem to recall we had a lot more news and information prior to Teck since now we're forced to wait for the quarterly JV meetings to hear slivers of information.

So far Teck has not done anything for us quantitatively. They are still our best option moving forwards and we expect good things to come from optimization. But, if you look at the numbers our share price was much better under Copper Fox management.

You might say that is the fault of the macro-economic picture with the entire world economy collapsing, and commodities dropping off a cliff. But, if you are not inclined to believe that then surely the rational thought is Teck has performed worse than Copper Fox.