Well as I said I couldn't get into the article, even incognito mode. So it's not like I had that luxary, otherwise I would have. Plus I didn't really care about the seeking alpha article that was posted because IMO it is not the best source.
Anyway it just seemed off to me at first, but as we were talking I was remembering we did have a tad more than just the refund. Either way as I said I didn't know the cost of VD PEA (maybe it is over 2mil and that is a big difference)(although I guess that was in the article, but who is to trust this article/once again I couldn't actually read it). Now I question if the office said 750k, seems more like we are pulling that from the article which doesn't have the strongest credability. If the office actually said this, good, otherwise who knows where the number actually came from.
Along with that there is also that beast Carmax, but maybe we won't need to spend anything on them this year.
So I guess we can say roughly 3 years + THIS years work. If we wan't to do anymore work next year or anything on top of VD PEA and a SB survey we will be chopping away at that 3 year. This is also assuming the costs of 750k/300k are enough for a VD PEA and SB survey respectivly.
Honestly, I am less worried about my personal credability than uncovering the truth in any situation. I often say correct me if I am wrong or present things I am unsure about fairly clearly to allow someone to jump in who knows the correct information. I have no problem being wrong, but I won't accept that without the proof. This really wasn't the best situation for that, but as I said it just seemed off from what was before.
Moving on
From my old post on this
http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/637864-nr-copper-fox-receives-3-63-million-cash-refund/messages/2001352#message
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With our burn rate around 1.42mil/year and still having ~5.5mil (6.3mil - 0.8mil less from tax return) we would still have 3+ years (5.5mil / 1.42mil/year = 3.8732years.
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I was remembering it closer to 3 years, seems I recalled wrong. Closer to 4 without any project advancements.
Along with that it shows your math is a tad off (might be enough extra to cover that though), but 1.2mil/year leaves out the 220k required for upkeep on Arizona properties. (includes the annual payment of 142k to Silver Nickel for SB)
So working of ~5.5mil:
Remove 1mil for VD PEA and SB survey (4.5mil)
4.5mil / 1.42mil/year = 3.169years
Seems that it was covered, but the 5.5mil is working off an older number. Where did you find a balance of 4.6mil? If this is the more current balance we are looking at
(4.6mil - 1mil) / 1.42mil/year = 2.535 years.
