Re: Copper up again in after hours- $3.62

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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Re: Copper up again in after hours- $3.62

in response to

Re: Copper up again in after hours- $3.62

MoneyK

posted on Dec 11, 2020 02:09PM

From the QB2 minority interest transaction.

Additional amounts may become payable to the extent that average copper prices exceed US$3.15 per pound in each of the first three years following the commencement of commercial production, up to a cumulative maximum of US$100 million if commencement of commercial production occurs prior to January 21, 2024, or up to a lesser maximum amount in certain circumstances thereafter.

In summary, if the project is worth more at production, the minority interest will get their share of the upside. Win-Win.