Well, if you look at the new JV agreement....all of the old legacy contracts still apply. Is the 4 year clause still in one of them?

This was recently discussed here on this board and you could probably find that discussion by doing a cursory search.

My conclusion is that the underlying agreement is probably still there and if so the 4-year clause may still be there.

Given that, one of the unanswered questions surrounding this clause is when the 4-year time period would begin. What triggers the start of the four years? Is it perhaps the decision to go into production? If so, that decision can be made after a significant amount of work has already been done. I personally think whether it exists or not is irrelevant.

Furthermore, even if it does exist, it would be between Liard and the Schaft Creek project, that is to say the current JV. That means that Copper Fox with their 25% would also be obliged to get the mine into production within those four years or lose their options.

However, as I said, I am almost certain even without ever reading the contract that the beginning date could be manipulated to such an extent that it renders the clause null and void. Just IMO.