Asset sale in progress?

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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MoneyK

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Asset sale in progress?

posted on Mar 19, 2020 09:15PM

The Eaglehead announce took about 4 months before it became public.

The 2019 SC program results were initially expected somewhere in Dec 2019. Since then, Copper Fox and Teck have been "fine tunning" the report. It's now been close to 4 months and we don`t have any guidance on the 2019 and 2020 SCJV program. Pretty unusual...

In my opinion, selling Schaft Creek in exchange of Teck shares, the two remaining payments & future royalties at these levels could be a win-win-win situation for Teck, Copper Fox and Shareholders for many reasons.

The mining sector has been declining since 2018 and the cycle was on the verge to bring everyone back to the 2009 & 2015 baseline. Maybe waiting for that moment was one of the exits strategies. Earlier this year, I don't think anyone was expecting the market to collapse that fast, but who knows, maybe covid-19 accelerated the sale process and we could hear news that the deal is done somewhere in April.