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.

over 11 years ago

in response to Prospekt's message

"How do they plan on paying for this if Teck walks?"

Depending on how extensive a drilling program they plan to have; but there is no immediate shortage of cash for CUU.

At the end of the last Q, they have $5 M in the bank; since then EE has committed $2.5 M and another $0.5 M from some other investor(s). So they should have about $7.5 M left after the current Q's expense of $500 K. We don't know how much they have already spent on the FS; and this will be refunded by Teck once CUU produce the detail list of expenses to produce the FS; that could be a couple of millions coming back from Teck. So they may end up with close to $10 M in the bank.

If Teck backs in, even for 20%, it will immediately solve any financing problem for the drilling program since if they do, they would have to spend at least $90 M in developing SC.

That's why I don't think Management is too concerned yet with their cash position; not yet. JMO