Agoracom: Small Cap Investment - Copper Fox Metals Inc. - Re: I Emailed Elmer ...... I Emailed them too

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Re: I Emailed Elmer

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Dec 22, 2011 01:25PM

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Dec 22, 2011 02:27PM

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Dec 22, 2011 02:33PM

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Dec 23, 2011 02:41PM

MES

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Re: I Emailed Elmer ...... I Emailed them too

in response to

Re: I Emailed Elmer

webgogs

posted on Dec 23, 2011 09:32PM

Thanks Webgogs, I agree with you, it’s very close to what I actually thought about this delaying of FS.

As far as I understand, they want to make sure that they have the new updated RE ready in case something goes wrong with Teck after 120 days and to put more pressure on Teck to make their decision before 120 days expire. If we have an updated RE ready before 120 days expire then no worries for all of us especially for Ernesto and his 200 + millions.

So this delay could be just buying more time for the new RE. With the new RE we are safe, we do not have to worry if Teck is buying us or not because we will have everything ready for Teck or somebody else to buy the whole project or just our 25%.

At first, I was disappointed with the delay because I wanted to see the beginning of the end of the story but now I think that this was a better and safer choice for all of us.

In other words, I think BFS is done but it’s not time to release it if we want more money for our shares for more copper that we found this year.

Sorry guys, English is not my first language and it takes longer to explain what I think, unless you understand Russian:)

I wish you happy holidays, and as YourNadir said - 2012 is the Chinese fox year, I can say our East-European Christmas is in two weeks... you never know when the good news might happen.

Before you posted this I sent an email this morning to the company asking the same question - why is the FS late if we are not using the 2011 results ?

I appreciate their response and to be fair to them I am not going to copy their email but what they say is that the delay in completing the BFS is expected to be minor. While the new RE needs around 3 months to be completed, they do not want to delay the completion of the BFS any further.

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