Hello - some of you might remember me from ... almost 4 years ago at this point (yikes - the wait is real for this company). Bitter-sweet to see some of the people from back then are still around (as ideally we would have all been able to cash out by now). I'm just posting to see what everyones thoughts are for coming back/reinvesting/increasing my position into CUU.

From what I see currently:

1) Current stock price (10 cents/share = 45M Market cap) versus cash. That's barely above what should be almost guaranteed cash (or soon™ to be cash levels). Now - we don't actually have the cash in our bank account, but the JV for SC says, "Teck will pay a total of $60 million in three direct cash payments to Copper Fox: $20 million upon signing the Joint Venture Agreement, $20 million upon a Production Decision, and $20 million upon the completion of the mine facility."

We've gotten (and nearly spent) the first $20M, but the next $20M should be coming with a production decision. I'd be shocked if one wasn't made this year as I'm not sure how much longer optimization studies could be (though I've been wrong on this before). SC is already shown to be profitable... further desktop studies should just make it more profitable. The $20M upon completion of the mine might be a few years into the future, and to be honest I'm not sure how long it would take, but I've guessed 3 years at an 8% discount rate is roughly 15.8M.

That's around $36M in low risk cash versus our $45M marketcap... leaving a 9M value for everything that SC owns. That seems like a major mispricing by the market, unless I'm thinking of valuations incorrectly here (and would love for someone to convince me/show me why the above is wrong).

2. Timing (short term) - In the short term, summer and August in particular is historically a low point as there's less volume in the market as people are on vacation and enjoying summer. Things tend to pick up in the fall.

Timing (medium term) - They've been doing optimizations for a while here. I don't see why it should take much longer to come to a production decision unless they're intentionally not making one because they don't want to start until they have a partner that can actually work with to minimize work/risk. If it's not because they're intentionally delaying until they have a non-dead weight partner, then it seems like they would make a decision by this year.

In terms of timing - it seems like the next couple of months there really should be some reason for the price to move up. That said, the company hasn't done much to show us that's the case and this same sentiment has probably been said over and over again .... for years now. 

We all know the value of SC itself, that's what had us invest in the first place - but it seems like now might be a good time to get back in/increase positions in CUU based on what I'm seeing, but would love someone to convince me out of doing so. I've been burned with CUU before, and don't want to make the same mistake as I did before but things seem different now in terms of the risk profile of doing so given where the price is and where the company should be in terms of positioning themselves to getting bought out and/or progressing SC with Teck.

Would love to hear everyones thoughts!