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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Message: Re: Timeline and delays

Feb 21, 2012 12:02PM
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Feb 21, 2012 12:58PM

The way Elmer has put it to me suggests it will be out before the end of March. No should, could, or depends left. The 4 contractors who needed to report had plenty of time to do so. Without a smash wild card that makes us demand a delay, they will have no choice but to produce it.

Since the early days we have been threatening to produce a FS and also indicated that we Are Teck's partner. We've refined the resource and bought shipping storage and advanced this towards a turnkey mine. We are still acting like a partner. I suspect we delayed when Teck wanted us to and expanded the reserves as they requested. In the mean time Teck has put money into other companies, rebuilt mills and cleared up their finances. Now they are shopping for iron. We continue to act in their interest. But this signal that they want iron is a message to us. We need to get the FS out pronto and without regard to what Teck wants. It's time to deliver on the contract.

By now everyone here has studied FS papers delivered by other companies on comparable properties and realizes that there's no way it takes this long. Not even correcting errors takes this long. Look at the old Minerals North pdf. This is our third time around the block. The company tell us the time was not right, the time was not right. Oh, it's very complex and of course, lazy contractors. I know another company that plans to have a FS out in 6 months. They may take 9 months if this years RE needs to be incorporated. Our FS is 4 years in the making!

So let's take timing into account. We want a deal done by April 19. Issuing the FS late March is not wise. It should come out right now. Let the cards drop. I know they want to wait for Nova Copper but it's better to be more open to the general market. Anto is working a deal with RRI. If that's not telling then nothing is. Anto could have come to us and they didn't. Instead, they are going exploring near Smithers around Babine Lake. We have to ask ourselves why they didn't come to us and talk. Other majors are also leaving us alone. Can they really be respecting Teck? I know for certain the FS is done so I'm clamouring for it to be dropped finalizing our contract. I'm not sure what I can be missing that makes it in our interest to delay it into March. I just don't see it. I do see potential problems with waiting.

It's time Elmer and co came clean with why they are waiting. On that subject, where's our AI. Are we going to be tardy with the paper work too? I want an update from my investments early in the Q. It annoys me when the paper work comes late. It always has. It's time for the company to smooth relations with the investor by detailing a plan of action. Give us something to measure them by. That's been a bit of a sore spot for the last 2 years. At this point the should have given us a progress report on the paper work. Other companies spell out what they are doing and issue progress reports. Why can't we be like them.

BGM has almost 60 holes outstanding. Yup. 60. They are a dot on a map near me and not a multi billion dollar porphry with Teck as a bed partner. I cannot square last years program against this. To me it seems we were in a holding pattern. The funds to drill had to be wrung from the coffers one doller at a time. And yet we wait for the FS. A complete review shows how deep we are in this with Teck but at some time we have to stop the spousal abuse. Elmer must give us the FS now. Perhaps they think that appeasing Teck is the safest route to the end game. There's been tenative talk about going to the market and see who comes courting and yet we wait.

With no insider buying I can only hope they will have news this week before I have to start calling and pestering for news tidbits in leau of something substantial.

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