Re: NR: Copper Fox Announces Warrant Extension
in response to
by
posted on
Dec 07, 2012 07:12PM
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%)
While not the NR that most here were looking for after waiting through a long period of no PR, one could look to the positive side, that being the so called "Control person" could have let the Warrents expire worthless only to turn around and initiate another PP below current share price, this would add up to more dilution and less money in the coffers for CUU, of course I'm assuming that the excercise price of the New perchase warrants would also be at a lower price. This tells me that greed is Not on the agenda of the so called "Control person" and is willing to pay a premium for these warrants considering current share price. The value of these warrants would be somewhat over 5 Mil, so my question is that with no funds being spent on Schaft Creek at his point in time, what dose CUU have in mind with the 5 Mil should these warrants be exerised? even though a long way out!