Re: Teck
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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%)
Message: Re: Teck
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Feb 09, 2016 10:52AM
2
Feb 09, 2016 12:28PM
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The JV is SEDAR listing on July 16 2013 Other material contracts - english. The link for the JV contract posted by Willy Nilly in the link library doesn't seem to work. Here's the section regarding Teck's $ 500k minimum spend commitment:
10.10 Copper Fox Program. If by March 1 in any calendar year Teck does no
propose a Program with a budget of at least $500,000 in Costs, Copper Fox may,
by April 15 in that year, submit a draft Program with a budget of at least $500,000
in Costs. Copper Fox's submission of a draft Program shall be a commitment on
its part to fund the entire Costs budgeted for that Program if Teck elects not to
contribute. If:
(a) within 15 days, Teck elects to fund its share of the Costs of Copper Fox's
Program, Teck may modify the work plan, but not the budget, for the
Program and carry it out; or
(b) if Teck does not elect to fund its share of Costs, Copper Fox shall carry
out the Program and Teck's Interest will be diluted as contemplated in
ยง4.7; provided that, if Copper Fox completes the Program with less than
80% of the budgeted Costs having been incurred, Teck may contribute its
proportionate share of the actual Costs incurred and thereby maintain its
Interest.
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