Treborjim - I hear you on being worried that there seem to be no leaks on CUU. This is encouraging and disconcerting at the same time. Judging by the management, I think I'll go with encouraging on this.
Neither Elmer or Mike have hyped Copper Fox when speaking with me, which is unfortunately not the case for many Vancouver juniors which rely on hype. If we we look at the company's track record of non-disclosure and evasiveness on many topics, it is plausible to think they've locked the doors tight and are very serious about no leaks. If you've talked to Elmer, or listened/seen one of his presentations, he's very measured with what he says and is hard to trip up although many of us try :) I'm pretty sure they have folks on their wider team who are extremely familiar with BC Securities Commission regulations too, and no one here can afford any investigations or tied up money because of irregular buying patterns or rumours of leaks (I escaped the madness of BGM with a tidy profit and shudder to think if I had hung on - still halted and investor money trapped).
As an aside, I've met numbers of people recently in the Vancouver mining community who are quite experienced and work on many projects in BC. I'll often ask for a casual opinion on Copper Fox and Schaft Creek, to see if any can add something to the collective pot of wisdom. Surprisingly a good number don't have Schaft Creek on their radar at all, or know almost nothing about it. Same with some fairly astute traders I know who trade for a living and do well at it. This is somewhat perplexing to me, especially given the fact that we were rated the top TSX Venture stock for 2010 and had a market cap of $1 billion dollars in 2011.
Sometimes I wonder if I'm crazy and have fallen for a company which is going to just dangle the BFS carrot forever without delivering. And then I wonder if we really do have a multi-bagger from here that is going to surprise the heck out of a lot of people and make a nice splash in the Globe and Mail and the Vancouver Sun when this is all done. I'm still quite optimistic, but will feel great relief on a positive BFS - and no, I don't mean a $1 cash positive BFS.
I have very little doubt Schaft Creek will be very profitable on paper with the new numbers that we are going to see. The 2008 PFS was very profitable, and you'd think 5 years to make it more profitable/detailed/realistic is possible. But how profitable and what Teck will actually pay for us - no idea how to value this. Therein lies the angst ... and the fact that I'm stretched very, very thin on an investment that has taken so long, my family and friends are now along for the ride too.
NR soon? Please. The silence is deafening.
