Please do not take this as what I think is going on with CUU.

FWIW, I bought Copper Canyon Resources around the time of my first CUU investment. (2006-7) I was a Novagold shareholder and was looking for explorers around Galore Creek. Bought some Copper Canyon in 2006 around 0.40 and it dropped to around 0.15 by the end of 2009.

Then in mid 2010, CPY started a steady climb over a couple of months from 0.15 to around 0.50. (plus or minus, it was a while ago) No news at all for the "unexplained" rise. But in December 2010, NG ended up making unsolicited offer for CPY at 0.60 in December 2010. The final agreed-to deal was $1.05 a share in March 2011.

http://www.nasdaq.com/article/novagold-to-buy-copper-canyon-for-105-per-share-cm60765

The lesson I took away is that there is often information out there that I just don't have access to.

I don't think the recent CUU rise is related to a buyout, but I think there is something going on beyond simple copper price speculation. JMO.

Short answer, IMO: Years of waiting. Issue some stock, drill some holes, prove up (best case scenario) reserves, wait for a major to come calling. If we're fortunate, and things go well, we may see something out of BXX in the next 5-10 years. If we haven't been diluted too much.

Long answer: Back in 2006-2007 I was a Novagold shareholder following Galore Creek development. Barrick was hot to take over Novagold in a hostile buyout. I started looking into the area around Galore and found three explorers to buy looking to take advantage of the interest in Galore Creek. Bought equal amounts of Copper Fox, Copper Canyon, and Roimos Gold. I ended up making a nice profit when Copper Canyon was bought out by Novagold (after 4-5 years, IIRC. NG paid what I thought was 30 cents on the dollar for CPY, but in hindsight with the stall in Galore, it was a good deal), Roimos was up and down and never went anywhere (took a loss and sold after 7 years), and I'm still holding Copper Fox, which in my opinion, has the best property holdings of the three. (Been holding 8 years now)

CUU has a JV with a major, nice properties in safe jurisdictions, good tight-handed ownership structure (important considering most juniors get stolen in hostile takeovers by majors) and is trading close to the lows in the dark days of 2007-2009. I still think CUU will get bought out but I didn't expect a 10 year timeframe. (I'm guessing 2016 for a final transaction on Copper Fox)

CUU is so much further along than BXX. (Much more mature. Schaft is through the Feasibility phase in a live JV with a major, some of the Arizona stuff is in the pre-feasibility stage with other majors close by.)

IMO, if your timeline isn't measured in multiple years, you're in for a lot of frustration. If you're very lucky, they hit a bonanza hole next drill set. But that's not typical.

Where did you get the % numbers? I looked at the release and didn't see those anywhere in that release. Maybe I'm missing something?

Ugh. I was only in BXX because of Stewart. Thought the money guy from CUU (EE) might have come to BXX's rescue eventually, with Elmer heading up the exploration. Now that blue sky is gone.

Still not posted to my account. Anyone else still waiting?

BTW, even if CUU comes calling, I don't see all $20M going into a BXX buyout. Not when BXX is a 6.5 M company. CUU would need some of that money to drill in Arizona and the acquired BXX properties.

Personally, I'd prefer CUU shares to a buyout at current levels in cash. Say after a 5 for 1 reverse split, BXX's value is ~0.25 with 48 million shares outstanding. Say CUU offers 1 CUU share for every 2 - 2.5 BXX shares.

A CUU buyout is not likely (~10%), but ES runs both, and it would neatly consolidate things for him.