To avoid defaulting on that agreement an NR stating back-in intention (doesn't need to say percentage, just willingness to back-in) must be issued otherwise CUU takes 100% ownership.

I don't believe this is true. Teck has to give written notice to Copper Fox that they wish to exercise their back-in right within 120 days. There does not have to be a NR to the public that they have chosen so if we don't hear anything it doesn't mean they haven't made a decision to back-in.

As I just said, a delay on announcing this sort of decision would probably indicate that negotiations are going on about an acquisition or a definitive joint venture.