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%)

Free
Message: Friday news release

Copper Fox holds title and a 100% working interest in the Schaft Creek project consisting of 39,507.67 hectares (97,626 acres). Included in this total are the "Schedule A" mineral tenures 8,334.34 hectares (20,594 acres) originally conveyed to Copper Fox pursuant to the 2002 Option Agreement.

The 8334.34 hectares described as Sched A lands is that shown in Pink on CUU's Mineral Claim Map. The hectares add up exactly.



CUU MINERAL CLAIM MAP

Schedule "A" in this case must refer to that schedule attached to the Teck Agreement. It isn't something new. Sched "B" is where all of the mystery lies in the Liard interest.

After all these years and all of the questions raised by CUU shareholders regarding what is in and out of the Agreement, CUU comes out with this map showing the original "Property" vrs other 'classes' of properties. I don't think this was done to help us understand the Agreement - after all this time -but rather to understand how things might be split up for CUU 2.0 if things go that way.

I am guessing that we can have a peak at Schedule B (the underlying Liard interests) when BFS drops(?)

From the Teck Agreement (bold from the agreement, underline my emphasis)

This agreement (the “Agŕeement”) provides the terms and conditions for the acquisition by Guillermo Salazar'(“Salazar”) of 100% of Teck Cominco Limited’s (“Teck Cominco’s”) interest in the Schaft Creek property (the “Property”, as further described in Schedule “A”), located in the Liard Mining Division, Province of British Columbia, Canada.

Teck Cominco hods a 70% direct participating interest in teh Property (the "Direct Holding" and an indirect 23.4% carried interest (the "Indirect Holding") through its 78% shareholding in Liard Copper Mines Ltd. ("Liard") who hold a 30% carried interest in the project. Teck Cominco's interest in the Property is held subject to certain agreements (the "Underlying Agreements") attached as part of Schedule "B".



Share
New Message
Please login to post a reply