THE SCHAFT CREEK SYNDROME Good day to all,
Next week will be the 13th anniversary of Copper Fox Metals all-time high period when the stock price hovered around $ 2.68 and $ 2.74 until early April 2011. Since then, it has been a complete downward trend and many investors have had to sell and buy back numerous times to play the highs and lows just to stay afloat or generate a few profits. Not what we had expected to do at all back in those days!
At least, if you bought shares in the Spring of 2020 at 6 cents or at/below 10 cents, you are still in the green by a large amount, but that is not what the prospects of CUU were in the first place. This was supposed to be a 20+ bagger or more! God bless those who sold at 60-65 cents in May-June 2021 during the last pump too... because it has been a dry Arizona desert ever since!
However, the metal resources context is now resembling 2011 in many forms: copper price is at $ 4.12 USD per lbs now and gold price is around $ 2,200 USD per ounce. Have we thus reached the same conditions to finally "go to the moon?"
I believe that I speak for many when I state that we have had enough of the waiting phase. Every year, the CEO of CUU Elmer Stewart keeps promising new developments and actions which amount to almost no effect on the stock price. More surveys, more drilling, more preliminary studies that will propel the value of each mining project to new heights, yet without any practical result for the shareholders in terms of capital gains. Fortunately for him, his salary keeps increasing every year or so by a neat margin too. What a wonderful life!
Yes, thanks to Elmer for all the Arizona and Eaglehead projects, they will pay dividends in the long run but enough! How long can shareholders continue to wait for some decent profits?
This is the year to sell Schaft Creek. Now! TECK could pay CUU the first tranche of 20 million dollars binding them to CUU to get a first-user right on the CUU share of the project. If not, go public and offer it to the world, let the auction begin and move the focus on other buyers, not on TECK alone if TECK keeps stalling the purchase negotiations. As the CEO of the firm, Elmer needs to steer the ship somewhere to maximize shareholder value before we all die of boredom! Or old age!
Gold deposits were supposed to constitute 25 % of Schaft Creek's operating revenues in the project. In the last 5 years, gold price almost doubled. This now makes the mine extremely attractive to other prospective buyers with less operating costs or simply more revenues from gold, silver and copper extraction than previously thought. Also because it is located in Canada, it removes the risks of a foreign government changing its mind or legally stealing the mine (look at Cobre Panama or Carmen de Andacollo in Chile, for example, or the TECK new high costs of QB2 in Chile as well, not to mention the huge fiasco with Gabriele Resources in Romania).
Put it out on the market, Elmer, test the waters and make TECK nervous or jealous so they might finally buy us out! The rest will be a joy ride with Eaglehead and the Arizona mines.
I am personally grateful to Elmer for all the other mining projects which he acquired over the last decade. They might even constitute way more value than Schaft Creek alone. But as long as Schaft Creek is not up for sale, the stock market does not care a single bit about CUU. That is wrong and it is time to act. This Spring!
I rest my case,