Mike Smith gave an amazing interview, and it is obivous our Vice President thinks Copper Fox has a happy ending and a clear vision which is to sell our interest! I do not understand why people are stressing. I am confused why people think we will be here for years and sitting idle? If Teck does not buyout Copper Fox, a Major will after drill results imo. If not, we can wait for the permits (1 and half years?) but at that point the asking price will be extremely higher due to further de-risking and project development certainty. What makes me realize this investment is safe and happy to be here is the below lol:
CIN: How important is it for an exploration development company to secure a partner like Teck?
MS: It’s the only way you get to realize the value of your project. You have to be able to have somebody to buy you out and if they’re buying you out then they’re going to turn around and try and find a partner. When you actually have a partner of that scale it really improves your ability to monetize it. For example, we don’t have any pretensions of being in the actual mining pit ourselves. To have them there makes it a lot easier because typically most of the major mines of the world, the same as the big oil and gas fields, are all partnerships with miners. Teck’s biggest copper mine is Antamina and they have Xstrata Mining as a partner. People of that ilk typically bring in other partners and they like them to be industry partners.
CIN: So has this deal made Copper Fox more attractive to other players?
MS: We certainly believe that. We’re certainly hearing good words from people in the industry. I think the market’s a little different story. It’s such a negative market at the moment it’s tough on them and I understand that. We think the future is very bright.
Mike Smith basically says Copper Fox is an attractive buyout company with tremendous value which means we are not going to sell-out Cheap. He explains that the market is negative and people like us are being affected which he can understand our frustration but hints of a "bright future". This is something I like to hear from our Vice President as it shows confidence and trust in your work and business strategy. In the above article, Mike Smith expresses they are not MINERS and have no intentions to stay along for the ride.
