I've had a little extra time lately and compiled some numbers showing Copper Fox's approximate cash levels. I've assumed a feasibility release of Dec 21 but that's just a random guess. I've also assumed regular operating costs of $600K to $900K per quarter.
In summary:
1. We should have enough cash to keep us funded for quite some time.
2. If we can keep our share price above $1.35, we should be able to collect millions of additional cash from warrant redemption.
Here's the data I used:
| DATE |
CHANGE IN CASH |
EVENT |
CURRENT CASH |
| 31-Jul-12 |
$0 |
Q3 Financial Statements |
$0 |
| 10-Sep-12 |
$4,000,000 |
Private Placement |
$4,000,000 |
| 10-Sep-12 |
-$2,000,000 |
Arizona Properties (pending) |
$2,000,000 |
| 24-Oct-12 |
$2,500,000 |
Private Placement |
$4,500,000 |
| 31-Oct-12 |
? |
Quarterly exploration expenses |
$4,500,000 |
| 31-Oct-12 |
-$900,000 |
Quarterly operating expenses |
$3,600,000 |
| 31-Oct-12 |
? |
Feasibility Reviews |
$3,600,000 |
| 21-Dec-12 |
FEASIBILITY RELEASE? |
$3,600,000 |
| 21-Dec-12 |
$1,565,950 |
Overdue options |
$5,165,950 |
| 31-Jan-12 |
-$900,000 |
Quarterly operating expenses |
$4,265,950 |
| 30-Apr-12 |
-$600,000 |
Quarterly operating expenses |
$3,665,950 |
| 24-Jun-13 |
$753,750 |
June options at $0.45 |
$4,419,700 |
| 20-Jul-13 |
$5,000,000 |
July warrants at $1.25 |
$9,419,700 |
| 30-Jul-12 |
-$600,000 |
Quarterly operating expenses |
$8,819,700 |
| 24-Oct-13 |
$2,717,391 |
Oct 2012 warrants at $1.25 |
$11,537,091 |
| 10-Sep-13 |
$4,375,000 |
Sept 2012 warrants at $1.25 |
$15,912,091 |
| 30-Jul-12 |
-$600,000 |
Quarterly operating expenses |
$15,312,091 |
| 13-Dec-13 |
$4,426,230 |
December warrants at $1.35 |
$19,738,321 |
| 30-Jan-14 |
$2,500,000 |
January warrants at $1.25 |
$22,238,321 |
