Re: Copper Fox announces a $2,500,000 Private Placement Unit Offering, insider commi
posted on
Feb 22, 2013 02:52PM
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%)
This is getting painful. I don't like it at all.
I don't like it either. I especially don't like the reason given for the offering: Monies raised from the Offering will be used to fund costs associated with the Environmental Assessment Application, development expenses of the Companies Schaft Creek and Arizona projects, and general operating expenses.
The word "development" has me particularly worried.
I checked for all the reasons given for PP's for the past year and none of them say development.
Monies raised from the Offering will be used to fund costs associated with the Environmental Assessment Application process, the Schaft Creek Feasibility Study and general operating expenses.
Monies raised from the Financing will be used to fund costs associated with completing the feasibility study on the Schaft Creek deposit and general operating expenses.
Monies raised from the Offering will be used to fund costs associated with the recently announced purchase of the Van Dyke and Sombrero Butte Copper projects in Arizona, the Schaft Creek Feasibility Study and general operating expenses.
Monies raised from the Financing will be used to fund costs associated with completing the Feasibility Study of the Schaft Creek Deposit and general operating expenses.
Monies raised from the Financing will be used to fund costs associated with completing the Feasibility Study of the Schaft Creek Deposit and general operating expenses.