Agoracom: Small Cap Investment - Copper Fox Metals Inc.

Apr 08, 2015 07:28AM

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Prospekt

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Re: NEWS!!!

in response to

posted on Apr 08, 2015 05:05PM

if there is a production decision where its a yes or a no we get another 20million so thats 40million and i guess the other 4 million for this years spending on schaft creek.

I believe the other $4 million was for the port agreement, costs to BCHydro, and the extra claims. The $4.8 million for this years spending does not come to Copper Fox.

I know we were told at one point that any production decision, either positive or negative, would require Teck to give us the $20 million but I don't believe it. Even if it were true, Teck could just go on forever on care and maintenance rather than make a decision.

The Production Decision is defined in the Agreement this way and makes it clear that it involves a Production Plan, which you wouldn't have with a negative decision:

The Management Committee may approve a Production Plan (including a Mine construction Cost estimate, with reasonable allowance for contingencies, which the Management Committee considers necessary to implement the Production Plan, together with a schedule of advances which the Parties shall be required to make in respect of Costs required to construct and to operate the Mine) (a “Production Decision”). Thereupon the Operator shall give Notice to each of the Parties of the Production Decision including with that Notice a copy of the Production Plan.

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