"If the update is not substantive, what are our options?"

First, we will have to agree upon what "substantive" means AFTER we have the update.  Then we may or may not have something more to discuss. I will say this, however. 

I am not willing to sit on my hands, awaiting eventually higher copper prices, maybe, and on the assumption that someone may then feel it is an appropriate time to present an offer, one which may or may not be acceptable to shareholders (however which way the BOD may vote on it).  If that sounds like an overly complicated sentence, so too is this lack of movement when other explorers are able to enter transactions at this time in the copper market.

Usually, I see an offer for a partnership as something that is a public notice allowing the BOD 30-days to respond.  During that time, shareholders can express their opinions to the BOD, or the company can entertain better offers, letting the first one expire (or be topped by the original offeror), which starts the clock over again.  This is called a bidding war and it provides the best outcome for shareholders.  And, frankly, that is just the sort of marketing we should be seeing, but for which we have seen no evidence - to this point, anyway.

Oh, and sometimes I've seen smaller explorers/developers be sold shares at a discount merely to prompt larger companies to come to the table with partnership offers or buyouts, not that we want a buy out at this time.  I bring this up merely as an extension of ways to market exploration projects to companies with deep pockets.  ...may be more than some here want to read, but there it is.

VP