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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Message: Re: 2024 SC plans discussion
6
Feb 21, 2024 04:17PM
5
Feb 21, 2024 04:47PM
1
Feb 21, 2024 05:38PM

 I don't want those payments altered, reduced, eliminated! 

We will never see those remaining two $20 million milestone payments, and here is why (imo):

Under the SCJV agreement, Teck is required to make three cash milestone payments to the Company:

(i) $20 million upon entering into the agreement (received)

(ii) $20 million upon a production decision approving mine construction

once a production decision is made, the value of copper fox will go through the roof and the money TECK would have to pay for our share of SC would dwarf the $20 million payment many times over

(iii) $20 million upon completion of construction of mine facilities.

There is no way TECK will take 100% of the risk to do the mine construction alone; they will select another major to share the risk. As such, by the time SC mine is built, copper fox will no longer be in the picture to collect the milestone payment.

5
Feb 22, 2024 12:35AM
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