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: not sure

almost 9 years ago

in response to CanadaG's message

Copper Fox's share of the purchase price will be deemed to be included in the Pre-Production Costs as that term is defined in the Schaft Creek Joint Venture Agreement

What the JV says is that if any Liard shares are purchased that we have to pay our proportionate share of the costs or the shares revert to Teck, not the JV. Instead Teck allowed our share to be included in the Pre-Production costs.

This means that our cost of purchasing our share is included in that first $60 million that Teck has to pay before we are required to pay them back out of profits. That means we did not actually pay for them and will not have to pay. I assume that means we will not see the price. I further think this might be the reason they went off-JV with this and gave us a deal.