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: Copper Fox's prepaid equity
2
Aug 12, 2012 12:47PM

The question as I understood it relates to how Copper Fox retains its interest in the $80 million in value that has been incurred

I do disagree that it is gone

If Teck does not buy us out, we maintain our 25% in the project with our initial contribution of $80m million being a prepaid interest in the mine, with the attendant guarantees on Teck to perform

Assuming Teck does not buy us out, that interest will probably be sold, including the prepaid equity that would be part of the sales price, to a third party

The $80 million will come back in some way

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