posted on
May 16, 2023 09:28AM
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%)
Message: Re: Time
We recently had EE exercise warrents...
"Subsequent to the fiscal year ended, the Company has received 23,451,667 exercised warrants for total proceeds of $2,110,650"
Which left us with about 1.5 mil in Feb of 2023.
"As at October 31, 2022, the Company’s cash position was $132,192 (October 31, 2021- $2,646,608) and as of the date of this News Release the Company’s cash position is $1,516,528"
Im not an accountant or anything but judging by the new releases and year end reports over the past few years, it looks like we blow anywhere from 800k to 1.2 mil a year. Elmers wage being 1/3 to 1/4 of that each year.
We are probably stocked up for this years trips to Arizona to rock hunt, and the 7 or 8 days of drilling between perpetual fog and snow (heat domes included).
My guess is if EE isnt going to do any more cash injections, they will have to do a private placement like they did a few years back, asking us bag holders for more cash to fund all the positive results and share price explosions.
Since we arent in Tecks segement of 2024-2029+ and we have no other information to go off of, my guess is we need at least another 6-8 mil to keep us going to 2030+.
Listened to the first part of JP's presentation this am before work, nothing new that i found, no mention of SC whatsoever.
He did underpin once again that Teck is the partner of choice. I wish I could ask how any sh of CF feels about that statement. My guess is he would say... "They are probably pleased!"
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