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: Letter to Teck -- Stop the hostile and costly SCJV partner starvation insanity
Emailed today to Sheila and Jonathan
I have been a Copper Fox Metals shareholder since 2011 who is now considering taking action against Teck Resources.
Depending on your response, I may take action either in the form of legal action or as a campaign to expose Teck for its costly, hostile and predatory practices towards its Schaft Creek Joint Venture partner, Copper Fox Metals.
You have not only cost Copper Fox Metals shareholders the opportunity to share in billions in profits over the last near-decade but have also cost Teck shareholders billions in market cap because of your ill-advised alternate project sanction decisions.
Depending on your response, I may take action either in the form of legal action or as a campaign to expose Teck for its costly, hostile and predatory practices towards its Schaft Creek Joint Venture partner, Copper Fox Metals.
You have not only cost Copper Fox Metals shareholders the opportunity to share in billions in profits over the last near-decade but have also cost Teck shareholders billions in market cap because of your ill-advised alternate project sanction decisions.
Time for Teck to put an end to the self-inflicted financial catastrophe you are causing your shareholders by holding out for a better deal on our 25% of Schaft Creek before sanctioning it. For starters Teck lost over $3 Billion US on a Fort Hills investment sanction vs a Schaft Creek sanction, not to mention the many Billions in profits forfeited that you would have booked by now from Schaft Creek, even on just your 75%.
Teck sanctioned QB2 in Chile vs Schaft Creek in Canada and QB2's capex has cost your shareholders $8 Billion US so far, IIRC over budget by $4 Billion US more than originally claimed when sanctioned. With today's Chile mining tax news how can Teck possibly spend another single penny on capex in Chile?
Including Forthills you have lost over $7 Billion US plus lost the opportunity to billions in profits from Schaft Creek, for no other reason in my opinion than you holding out to starve out your partner for a decade, all so very costly for just a couple of hundred million to a half billion discount on our 25%.
Sounds like absolute madness, insanity, but this hostility and self-inflicted financial catastrophe continues. Its just surreal and it must stop.
By June 30, 2023, if I hear from Teck anything short of a major announcement spotlighting and praising the Schaft Creek Mining District and that it is now your #1 top priority in your pipeline I will set in motion my legal and/or public expose plans.
Golf
P.S. Yes, I am remaining anonymous for now. I have witnessed how dirty you play and the lengths and expenses you will go to.
Golf
P.S. Yes, I am remaining anonymous for now. I have witnessed how dirty you play and the lengths and expenses you will go to.
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