Re: Copper Fox has Issued a News Release
in response to
by
posted on
Apr 10, 2014 01:21PM
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%)
I'm trying to work up a little excitement over the Carmax deal but I just can't muster it.
You're not looking on the bright side, already today our share in Carmax is worth about 17% more than when CUU entered into the agreement.
I noticed their RE is calculated with copper at $4, so even worse than SC. I'm sure there is much greater potential at depth since Elmer always likes to drill deeper. I just wonder about the timeframe for this project? It looks like they're stacking up some projects for the Desert Fox spinoff.
I sure wish SC would get sold. I'm also looking forward to a definitive RE on Van Dyke because it should be coming relatively soon. I'm not very interested in vague future exploration potential.