Re: Right of first offer better for CUU

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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youngmoney

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Re: Right of first offer better for CUU

in response to

Right of first offer better for CUU

youngmoney

posted on Aug 11, 2019 10:53AM

What is nice about this condition, it gives us some leverage. If teck is not willing to pay our asking price, they risk us selling to several other majors looking for promising large copper projects in a safe jurisdiction!

This means everything in the Jv contract gets transferred to the new development partner including the milestone payments (40 million), development expenses for future programs on the property (500k min budget) and most importantly the carried to production financing arrangement from the operator! No Financial risk to new partner.

Question is, will teck allow that to happen to them? Doubt it, so pay our asking price :)