I do not stand by my $5.37 prediction--obviously. After a year in which Majors made wild purchases counting on the price of copper to remain over $4 I think we can all be forgiven our enthusiasm. Since the gold peak in late 2011, I believe the top 14 gold miner's lost an aggregate of $164 Billion in market value, and Newcrest alone took a $5.5 billion writedown. I'm sure everyone has lost their giddy expectations from those days.

So your prediction for a full SC buyout is before any production decision in mid to late summer of this year? and you do not think that a 2014 drill program will be announced at all?

I was being a bit tongue-in-cheek, but I think it is possible. I think it is more likely than your timelines. I just don't see why Teck would improve the project to a high degree before they sort out whether to buy our share or not. I'm sure they know how much EE would accept and will run their own RE and FS to see whether they can accommodate that figure. They certainly don't want to carry Copper Fox into production with them so they'll be looking for a paying partner.