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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: Do we who read remember...

Re: ....Also, the price of metals changed drastically between the pre-feasibility and the feasibility, which affected every project out there, not just ours.

To me, generally the PFS had LOWER metal prices than the BFS and and compared to current prices. Molyddenum is the exception.

The PFS - which had the negative 32 cents. Based on:

Copper: $3.12/lb (Currently $3.17/lb) (BFS used $3.25/lb)

Gold: $692.90 /oz (Currently $1,305/oz) (BFS used $1,445/oz)

Silver: $13.09/oz (Currently $20.00/oz) (BFS used $27.74/oz)

Molybdenum: $33.00/lb (Currently $13.50) (BFS used $14.64)

http://www.copperfoxmetals.com/i/pdf/cuu-presentation-sep2011.pdf

My point is that the metal prices should not have made our economics worst between the PFS and BFS. In fact, using the numbers at the time of the BFS, we should have been even better than negative 0.32. It shows how much the other things pushed up our cost to produce a pound of copper.

So I'm still expecting/hoping that with the improvements as Prospekt has discussed we will be back in the negative copper costs numbers.

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