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%)

Free
Message: Stock Option---Question?

Say we need it to drill to December. Say 6 months if we started in June with business as usual. $6 million total to run the drills.

$6 million at 65 cents. That's a 9 million shares dilution. That's roughly a 2% dilution on the outstanding shares.

I do agree that 2% isn't a whole lot on the outcome but RapidTiger is right that drilling now won't prove any economics.

Isn't it fairly obvious that CUU can't do anything. ES, EE and the board are under the cone of silence. How could they issue shares at this time? Who would purchase them?

The company is locked down, There can be no PP's, no drilling, no exploration, until there is an outcome. Even work of the environmental assessment seems to have slowed to a crawl.

My view is one must look to the periphery. "Copper Fox may not proceed or continue with activity on the Schaft Creek project as currently planned." What is ES doing to set up the future? Well he is trying to build a new direction in Arizona. This in my view is a better indicator that we are moving away from Shaft Creek soon.

The asking price may in fact be too steep at this time. However the longer this goes on the longer they are still discussing. None of the parties has pulled the plug. My hope is that the two sides are moving closer to agreement on the future of Shaft Creek so that we can all get moving on are businesss plans.

Share
New Message
Please login to post a reply