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%)

Free
Message: Mineweb Article - Thoughts
Reply New Message
Prev Message Back To Forum Threaded View Next Message

The difference lies in the minimum amount invested. With the new agreement, Teck only had to pay $24M to earn 75%. With the old agreement, Teck had to pay $350M before they earned their 75%.

Teck has no obligation to spend $60M on exploration and no obligation to payout the other $40M to CUU. If they don't like what they see, they can stop spending money on it and still have their 75%. I like the new agreement because it limits dilution but I hate how there is no obligation for Teck to spend money exploring.

11 Recommendations
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply