"The press releases to date suggest a smaller initial pit focused on the Liard zone only. There's no mention of Whittle pit shells in the FS, so the wordng "generation of new Whittle pits" suggests Teck is making at least a second version of their design. A smaller intial project should not be viewed as a negative. Proceeding with the development of SC would be the big news"

I agree. The smaller "initial" mine is a huge positive and will change the perception of Schaft Creek as this will become a multi-phase project. I explained the benefits in this post below:

http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/635348-potential-initial-12-year-mine-life-explanation/messages/1993401#message

I also said in another previous post:

"I believe part of the 2015 program at Schaft Creek will consist of revising the resource update, the mine plan and feasibility study using the improved numbers and the new data collected the last 2 years of mine development"

I was correct as the positive data has warranted Teck to continue the development of Schaft Creek mine. "If warranted by the new studies, updating of operating and capital costs, flowsheet design criteria, and a new financial simulation are planned for later in the year". This is progress and news I expected to hear. Also to note:

"Two big things to improve the economics: waste removal costs abolished (which will improve and reduce the operating costs and overall cost to produce a pound of Copper) and added minerals: converting inferred to M&I and adding the high grade mineralization that could not be incorporated in the BFS due to pit shell issues and safety. These metals at the bottom of the pit that are NOT in the BFS represent nearly half the M&I resource estimate at SC. This will immensely drive the economics of the project up. I am also hoping for an update on environmental permitting. Copper Fox will not sell until we receive the EAC and a production decision. The reason we would wait for these developments to unfold is because it would further de-risk the project which would get us maximum value for our 25% from a major"

Schaft Creek is going through a complete reassessment. This mine is being redesigned to improve overall productivity and efficiency. The steps being taken will improve:

-the capital investment made in the mine, increase the NPV, ROI and IRR. There will be a reduced payback period based on higher profits, increased processing throughput and higher metal revovery percentages.

The last few years of development will redefine the profitability:

1) Waste and cost conversion (double trouble outcome)

2) Inferred outside the pit (infill drilling to upgrade to economic grade)

3) M&I metals outside the pit considered unsafe to mine

4) Metal recoveries improvement

I believe the last few years of mine development has resolved these above issues and the new economic studies will showcase the re-emerged Shaft Creek Swan. We went from a large 21 year mine with huge capital costs to a multi-stage project that will be mined in phases through its development starting with the Laird zone, then the paramount zone, and LaCasse zone. Each large zone representing a profitable mine with many years of production.