According to the article, the 120 clock has started
No the clock hasn't started. We'll get a NR when it has.They also don't mention that 1/2 th eresource isn't in the feasibility. But I like this:
''But the fourth, and most important, reason that Copper Fox is not rushing to develop the project is that development is not their goal – the company has always aimed to prep the deposit for development and then sell it.''
''There is another twist to the Schaft Creek ownership tale. Copper Fox holds a 100% working interest in the site, but Liard Copper Mines holds a 30% carried net proceeds interest. Completing the feasibility study means that Copper Fox now owns Teck's 78% stake in Liard. Adding in the 2% of Liard that Copper Fox bought on the open market, the company now owns 80% Liard, which means it indirectly owns 80% of the junior's 30% net proceeds interest.''
In addition, Royal Gold holds a 3.5% net profits interest in Schaft Creek.
''For now, Stewart and his team will push ahead with permitting because with every permit they acquire for Schaft Creek "the risk profile for the project drops considerably" – yet another way to make the megaproject attractive to potential buyers. ''
