Good afternoon,

Following up from my last post in August shown below.

The tide is turning. Met coal spot price is way up. Zinc price has had a great run the past year and copper is now on the move. Fort Hills is still a year away from production but don't be surpprised if Teck share price hits $60 by then. Teck is on its way to being a cash cow if commodities maintain the momentum.

Now is when thoughts and eyes will turn towards developing new projects such as Schaft Creek. There was no hope when Teck was strapped for cash flow.

Recent volume tells me interest is returning to Copperfox. Positive optimization results could be the catalyst to make our stock surge again.

the future looks brighter IMHO.

Regards, Radagast

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August-

What needs to be understood is that Teck is in no position to move this project forward at this time. They have been busy the past year or more squeezing their supply chain for every nickel just to stay above water and make some profits. They have turned the corner and positioned themselves well for when commodities take off again. They have commitments in Fort Hills and other projects that have to wrap up first. When commodities start to move up significantly along with their cashflow, they will get serious about developing Schaft Creek. The question is not if but when in my opinion. They are certainly not going to move forward in the current environment.

I would bet that if copper had stayed above 3 bucks all this time, Schaft Creek would be under construction by now.

We basically are shelved for now and its anyone guess as to how long we wait.

I continue to hold and have been adding to my position, fortunate to have the luxury of time. The real concern being Copperfox staying afloat without further dilution.

All the best,

Radagast