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: Looks like it will have to be tomorrow

"How do they plan on paying for this if Teck walks?"

Depending on how extensive a drilling program they plan to have; but there is no immediate shortage of cash for CUU.

At the end of the last Q, they have $5 M in the bank; since then EE has committed $2.5 M and another $0.5 M from some other investor(s). So they should have about $7.5 M left after the current Q's expense of $500 K. We don't know how much they have already spent on the FS; and this will be refunded by Teck once CUU produce the detail list of expenses to produce the FS; that could be a couple of millions coming back from Teck. So they may end up with close to $10 M in the bank.

If Teck backs in, even for 20%, it will immediately solve any financing problem for the drilling program since if they do, they would have to spend at least $90 M in developing SC.

That's why I don't think Management is too concerned yet with their cash position; not yet. JMO

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