Re: Copper Fox has Issued a News Release
in response to
by
posted on
Apr 10, 2014 12:24PM
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%)
I'm trying to work up a little excitement over the Carmax deal but I just can't muster it. The idea of being a non-controlling partner in a rather low-grade project doesn't seem like a brilliant strategy. At least we're in control of Van Dyke and it was once an operational mine.
Schaft Creek is low grade but it's massive, so massive that we still don't even know the extent of it. Despite that, and all the other positives we have going for it, we can't unload it.
Oh well, CUU certainly has its share of mountains and mountains of minerals. Ultimately what we need to see is a damn rebound in copper, silver, molybdenum and gold prices. That can't happen soon enough.