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: Re: Elmer - Exercise of options
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Jul 13, 2014 02:06AM

cbew, I've been in a ranting mood as much as anybody lately.

I go through months of waiting patiently followed by feelings of simply wanting to escape the doghouse -- and maybe impulsively thinking about putting my fist through the computer screen when I see 26 cents per share, but violence solves nothing and would cost me a new laptop.

Anyway, I must ask you what you hope to achieve by insisting Elmer should be held personally responsible?

Is your objective simply to have the wider community accept this as fact? For the record. I think Elmer definitely shoulders some of the blame for missteps (waste rock left unconverted, for one, and I was sold on the terms of the old Salazar agreement back in the day too). But the broader markets and the downturn in junior miners are also partially at fault for our sad state of affairs.

You mention other stocks that have risen 50 to 100% while CUU continues to languish. I have seen the same, but in all fairness I know of several other copper juniors that continue to suffer, a few even worse than CUU, believe it or not.

Back to Elmer. He's not going to personally pay us back for our losses. I think the price he pays is losing investors in future ventures. Many of us here are so disgruntled that we're going to bail on management as soon as CUU's share of Schaft Creek is finally sold.

Of course for those of us who keep rolling the dice on the Venture exchange, we will inevitably be burned by other management teams. There are plenty of stocks out there with big losses to their names, and discussion boards are full of people cursing the president/CEO.

As Chunky said, long-term shareholders had the ability to pull the plug at $2 or $2.50, walking away with a tidy profit. I don't give Elmer that much credit for getting the share price to those lofty levels, by the way. CUU wasn't a promotional juggernaut back then either. It was some pretty good drill results and, more so, overly-exuberant commodities markets that propelled us to the moon.

If we're lucky, we'll see those conditions return in the months ahead.

In the meantime, I'm going to get growly now and again and I'll come here to blow off some steam, but I'm still going to be stubbornly holding my stinking shares. And I'll continue to ponder whether I really want to gamble on micro-cap stocks in the future, especially with such a relatively large sum of my net worth.

If you're just venting as well, I fully understand. Just be careful not to slide into defamatory statements. I'm not suggesting you've crossed the line, just that it's not worth adding to your financial woes by possibly having a corporate lawyer breathing down your neck.

I'm going to take a deep breath and enjoy my Sunday. At the very least, we can be assured our CUU holdings will not erode one cent today.


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Jul 13, 2014 03:26PM
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