Copper Fox Metals Inc.

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM Copper Fox Metals is a Canadian-based resource company focused on developing the world-class Schaft Creek Project in northwestern British Columbia.

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Re: some numbers (question)

over 11 years ago

in response to Investorish's message

Yes I do know about the 4 year clause but the question was in regards to what happens near term.

If Teck choses to back in this is what I think will happen: Cuu management and Teck will get together to form a JV agreement. In that agreement they will outline a strategy of what will be done and how much money will be spent in what year. I imagine Cuu management will want a drill program to upgrade the 171M tons, plus drill out the Paramount Zone etc. done this upcomming drill season. Teck, now the junior partner until they earn back, will probably go along as it is something they would do anyways if they bought us out. So to fulfill their obligations, Teck has to abide by this new JV agreement. They cannot just "shelve it" otherwise they will be violating this new JV agreement.

JV agreements are written up this way. Their purpose is to insure that monies are spent in the timeframes stipulated by each partner. Its like buying a car. You can't tell the dealer you are going to buy it without some commitment (deposit) on your part. Hope this answers your question.