We're cahed up to the bone. Unlike many other juniors out there who require 200k to maintain TSX listing.
We have Teck as the operator.
Many are making a big thing out of this 360 million....
It took CUU 10 years to spend $89 million and most of that was ''non exploration'' : feasibility, resource estimate 1&2, EAA, etc.
I say this: We don't require 360 milliion, 75% of that was Tecks anyway. We got our money back and more. We wouldn't even be around before they spent 100 million imo.
I think they will drill now, get the proof they want and we're gone. EE always knoew what he had and he wasn't going to just give it away without any test.
* Teck will pay $60 million (cash payments)
* In addition, Teck will fund 100% cost prior to production up to $60 million
* Teck will fund any additional cost if required
* Teck will reimburse $3.93 million
* Teck will arrange Copper Fox's 25% project equity and debt financing
* No more diluition
Focus now on what Teck will now discover on the UNTESTED PORTION of the Paramount zone and what those results will represent, the value it will unlock.
''Summer 2013 Exploration Program
The Schaft Creek Joint Venture intends to approve a Phase I, 2013 summer program aimed at increasing the value of the Schaft Creek project. The program will consist of approximately 10,000 metres of diamond drilling and geotechnical studies. The objective of the drill program is to test the extension to the east of the mineralization in the Paramount Zone''
That's all we need to know, and the majors who have been waiting to see what Teck does now know. The game just started.
