Re: Teck takes all

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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HayzToo

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Re: Teck takes all

in response to

Re: Teck takes all

Chappy726

posted on Aug 24, 2012 12:38PM

If there is a CUU 2.0, would the board of directors flow through, or would they have to re-elect a new board? I know there's nothing stopping them from nominating and electing some/all of the same people, but I'm curious if they'd automaticaly grandfather into the new board.

EE has legal responsibilities as a member of the Board of Directors. That fact tempers the majority ownership he has in CUU. As a board member, he is required to maximize shareholder value for all shareholders, not just his own peice of the pie.

If he is not a board member in CUU2, and he is a majority shareholder... then the only shareholder he's legally required to maximize value in... is himself.

Just curious on how the formation of CUU2 board would happen. If EE was on the board, I'm all over it. If not... heck I'm probably still all over it, but I'd prefer to have my eyes open to the possibilities.