Agoracom: Small Cap Investment - Copper Fox Metals Inc. - Re: What's Next.

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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hoghead

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Re: What's Next. - Don't look at it.

in response to

Re: What's Next. - Don't look at it.

calvin123456789

posted on Feb 05, 2013 04:14PM

Ok, can someone shed some light on this unlikely but possible situation?

What if Teck says the BFS isn't acceptable?

Devil's advocate here so don't get worked up - but is there a possibility that Teck could reject the BFS we submitted AND still retain first right of refusal on the project?

I sincerely hope that is not the case.

Like others have said it could be 2 years (or more if you factor in past performance) to get our BFS right the second time, plus the PPs would likely be at much lower share prices (much more dillution) and then after all that give 75% to Teck for a song?

If Teck rejects it and then its all ours, I can live with that - but giving them 75% for only 4x expenditures and 2 more years wait would be a hard kick to the groin!