Re: Copper Fox is a different animal..
in response to
by
posted on
Jun 28, 2013 08:26AM
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%)
Anyway you see it a deal must be near, maybe some think we have the higher hand in the negos but I think not. Yes we are holding the lands but if market values us to 10 cents, guess what, its game over. it seems we've been caught in Tecks' games . A game in which we play nice to them, do as they suggest and bet on their timely response, which led to a so-so bfs and lost drilling seasons. We are stuck now since our sp would suffer from a failed deal and insane dilution would be needed to drill more. Unless we change our name for Copper Phoenix and wait several years to reborn... I think we will accept a jv or buyout in Tecks terms. Waiting more, it seems, just gets our sp lower and make our only exit, managed by teck, the only viable solution.