TD,

This is directly from our official corporate website....Elmer and board of directors approve this content! The below is why you're opinion is invalid. And in todays commodity pricing environment, Elmer would want closer to 100% of nav especially when using conservative inputs in economic studies conducted by third party industry experts! He might have confirmed this in recent agm discussions.

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For junior companies like Copper Fox the share price would be expected to be in the order of 0.5 to 0.7 X NAV.  Currently Copper Fox is trading at 0.12 to 0.15 of its NAV.  Copper Fox’s NAV is based on the 2020 and 2021 Preliminary Economic Assessments for the Van Dyke and Schaft Creek projects, both of which were prepared by independent engineering companies.