Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Producing Issuer
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Aug 28, 2014 12:00AM

If they did actually drill it for the PFS why would the results not be applicable to the BFS? Drilling in the same spot twice shouldn't be a requirement with the same company doing it.

It's not the drilling in the waste that matters.

The inferred was lost to waste when they did the mine pit design. It was the technical drills at the top on the east side that Teck did last year that would be used to open up the top of the pit, and then allow the mine to go deeper where the waste is located. The technical drills showed how stable the pit wall would be under a new design. Also, the drills to the west.

Copper Fox didn't find out until the mine plan was made that they would lose all that inferred. By then it was too late to start drilling again.

They could have drilled for one more season and put off the FS for another year after, all the while there was no money and further dilution would have been necessary.

Instead they finished the FS that was good enough to trigger the contract with Teck and get some money. It was a judgment call but I think it worked out for the best.

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Aug 29, 2014 10:41AM
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