Copper Fox Metals Inc.

I should clarify...

Just because the Schaft Creek project ends up being valued $XX Billion NPV doesn't mean that is what it will be sold for. Maybe that's what an accountant might do in the books as some sort of internal transfer or something (I dont' know). Its a good measure and starting place for understanding the value of the project.

Although the discount rate (i.e. 8%) is a method of factoring in risk and the time value of money, there still is an element of risk of taking this figure out of a BFS, spending Billions of dollars, finalizing permiting, and mining it for 30 years and weathering all that comes over the life of the mine.

I expect that a willing buyer and willing seller would meet about half way on a fair price. I'd like to hear people's comments on that. There are a lot of companies that re not even close to the NPV of their projects.

So with that thought I temper the information that the NPV per share info i shared in the previous post. I am closer to $4 than I am to $6. JMHO

glta