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: End of October

30% is a lot.  That is why the Liard shares were always a major factor in a valuation of the option agreement and JV.  In effect, since the SCJV owns now 85.5% of all Liard shares, the 30% of proceeds payout to the remaining 14.5% Liard shareholders will not have as great an impact on the Schaft Creek economics and value.

From the July 2013 NR:

Teck and Copper Fox’s Interest in the Liard Shares The shares representing the 78% interest in Liard Copper Mines Limited (“Liard”) that are included in the Schaft Creek Joint Venture will be held in the name of Teck for the benefit of Copper Fox (25%) and Teck (75%). Liard holds a 30% net profits interest in the Schaft Creek property. 

Hmm this wording doesn't confirm much, but I did read that the additional Liard shares that were purchased by Copper Fox were transferred as a requirement of the JV.   I would find it encouraging if in fact Copper Fox retained them but I still doubt it as those shares do not show up on their balance sheet.




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