Re: Question for the board
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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: Question for the board
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Elmers alleged comments about possible dilution vary. Some say Elmer told them dilution is not even considered. While others get told something different. For example, in April of 2013 Liddy asked Elmer about the possibility of dilution, and this was Elmer's response:
21. For us long time investors of CUU, who are also really worried about dilution with more significant delays to a liquidity event, what advice do you have for us?
Unless a company has income by way of selling a product, there’s not much a company can do other than issue shares. Nobody likes dilution, but on the other hand, you can’t have inactivity either. You’ve got to work on building the company. If your only source of cash to conduct those activities is by issuing shares is not like you have a whole bunch of options available to you. I don’t like dilutions like anybody else because hopefully, depending on where the whole thing goes, the fewer shares you have out, but on the other hand, you also have to do the work. It cost money to run the company that’s why we’ve been doing very very small placements and hopefully Teck will decide that they are coming into the project and they will pick up all the cost of the work. Our cost will drop significantly they they’ll pick it up because of the terms of the Agreement on an earn back.
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