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: JV Meeting
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Oct 27, 2014 01:14PM

AWESOME GOLFYETI!!!

I'll add this.

I don't understand why nobody see that the biggest positive part of the Salazar agreement was the financing condition and that Teck carries CUU into production.

The 4x money spent on exploration to earn back in and do it within a time frame is basically asking for Teck to walk away because how and why would they spend $300 million on exploring the property further? It doesn't make sense as a business partner and CUU wants to be a partner with Teck.

If CUU is confident enough in SC that it's feasible and it's worth putting money into developing it, why do they need that mothball prevention clause in forcing Teck to spend all that money within 4 years? Remember 4 years! Say Teck does "explore" over the next 4 years, we will be doing the optimization studies 4 years later.

Back to my argument, so CUU goes, we are confident that you (Teck) will want to put this mine into production soon as it will add $400 million cash flow to your company each year.

So Teck goes, ok, we will go with the recommendations Tetra Tech provided and that is to drill the inferred, and figure out the recoveries. At the same time, we will look into the capex and construction timeline.

CUU goes, we need to make sure we don't get diluted while we wait for these studies to finish. Teck goes, ok, here's $20 million for you. A

And hey! we will keep the financing condition as well! We will make sure you're there with us until production as to the Salazar agreement.

If you don't think that this financing condition is big, please find another junior mining company that has a similar deal with a major miner.

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