Hi Elmer, do you have the details of the SCJV 2022 plan yet? What’s the plan and spend? [Plan to release program and budget when provided by Teck and approved by SCJV. Teck in their 2021 AIF indicated the spend would be $6.6 million in 2022. This number has not be confirmed by Teck on inquiry]
What did you approve the CF marketing budget? What is it and plans? [The board approved an IR budget for 2022. The selection process is progressing. Candidate/plan/other details will be announced when finalized]
Do you have results of 2021 SC drilling yet? [received late last week, working on getting NR approved by all parties for release]
Looking at Teck’s plans from their recent report. SC still shown as last place, 10+ years out. [First time Teck has made any significant public comment on SC. Companies (including Teck) advance projects through PEA to PFS to FS stage to improve value and gain technical confidence. The time line on any of Teck’s projects could change based on increased valuation, geopolitics, etc. The time line does not affect Copper Fox’s board from deciding to exercising ROFO at its discretion]
Is Copper Fox management willing or interested in waiting 10 years to monetize SC? [I personally am not, but, that is a decision of the board and our major shareholder. I do believe that Copper Fox should take the time to let Teck advance project/add value. This would be a stage process, evaluated at the end of each stage to determine if the next stage can add significant value. If so then could decide to see value added on next program/stage or decide to monetize]
Regardless of what Teck wants to spend on SC this year, are you planning on formalizing a monetization strategy and executing it in 2022? [monetization is a decision of the board. Once a decision to monetize has been made, the step required to complete can be put in place at that time. As stated above , my recommendation would be to wait until results of 2021 metallurgical/geotechnical studies augmented by 2022 studies before making any decision on monetization. As indicated previously the PEA indicated significant value add, assuming positive results.]
