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: Open letter to Management
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Jan 07, 2013 01:04PM

Web may have something....take a look at the NSR for Casino (WRN) below.

Western Copper (WRN) has the option to repurchase 0.75% of the NSR Royalty (resulting in a 2.00% remaining royalty) for the following amount:

  1. US$39 million if the amount is paid on or prior to December 31, 2013; or
  2. US$59 million if the amount is paid after January 1, 2014 but on or before December 31, 2017.

The $59 million (b) for .75% equates to $80 million for a 1% NSR. Given that a 5% NPI + $32 million was exchanged for a 2.75 NSR, one could argue in our situation a 6% NPI (25% of Liard's 24% NPI assumming Teck back-in of 75%) could garner a similar 2.75 NSR at Schaft. Under that scenario, that NSR could be worth $220 million, or .55/CUU share! That would be the value attributable to just our retained Liard share ownership following a full Teck back-in.

Something to consider. Accounting guru's...fire away.

DC14

...and for comparison purposes between SC and Casino FS's

The mineral reserve/resource numbers used in the FS numbers for Casino are very similar to Schaft deposit. The main difference is in the Heap leach operation of the Cap that takes the tonneage from 965 million to 1.122 billion. Well if we added in our 171 million tonnes of Inferred included as waste rock our 940 million tonnes becomes 1.111 billion. Big difference in Capex which seems very low and non-conservative at 2.46 billion for Casino.


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