If the Salazar Agreement was not enforceable, what the hell was CUU doing spending upwards of a hundered million dollars of shareholder money drilling on land without a valid agreement with Teck? 

Teck always had the option to back-in up to a maximum of 75%. CUU had to do the FS in order to earn the indirect interest. The strategy for Copper Fox should have been focused on spending the minimum amount of time and money in order to earn in since they knew they could end up with only 25%. That's not what was done and most investors thought before the JV was signed that CUU was progressing toward a production decision at SC instead of banishment to the Twilight Zone. Whether the agreement was enforceable or not your point is well taken and I doubt we'll ever get an answer.