Re: Copper Fox announces a $2,500,000 Private Placement Unit Offering, insider commi
posted on
Feb 22, 2013 02:34PM
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%)
79 cents seem a little greedy to me. That seems to be a cherry-picked value as we dipped down recently. Yes, we've also been lower too. Would it be silly to think that a PP at, say, 80 cents, 85 cents, would send a clear message of value to the world?
So much for the rationale of stopping drilling last summer because they wanted to limit dilution.
As for that "development expenses and general operating expenses" rationale, that has been the catch all phrase for CUU for quite a while now and has covered everything from any exploration to claims acquisition.
Again, I'd like to see what the plan is for Arizona. A map or so would be nice. We recently acquired stakes to the west of the original Sombrero Butte claims. I hope that doesn't encompass the Butte itself (contiguous and west of the original claims) or the widlife reserve to the immediate west of the Butte.