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Copper Fox Metals Inc V.CUU

Alternate Symbol(s):  CPFXF

Metals & Mining Industrial Metals & Minerals
Copper Fox Metals Inc. is a resource company, which is focused on copper exploration and development in Canada and the United States. The Company’s projects include Schaft Creek, Van Dyke, Sombrero Butte, Mineral Mountain and Eaglehead. The Schaft Creek project covers 56,180 hectares of mineral concessions located in Tahltan Territory in northwestern British Columbia, approximately 60 kilometers south of Telegraph Creek, near existing seaport, transportation and clean hydroelectric energy infrastructure. The Van Dyke project is an advanced stage in-situ copper recovery project located in Miami, Arizona. The Sombrero Butte project is a Laramide age, exploration stage, porphyry copper project located in the Bunker Hill Mining District, 44 miles northeast of Tucson, Arizona. Mineral Mountain is an early-stage Laramide age, porphyry copper exploration project located in the Mineral Mountain Mining District, 20 miles east of Florence, Arizona.


TSXV:CUU - Post by User

Copper Fox Metals Inc
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Post by darpa1on Dec 20, 2010 12:09pm
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Post# 17870796

Isn't the CPY offer a 300% premium (not ~42%) ?

Isn't the CPY offer a 300% premium (not ~42%) ?
Isn't this offer a 300% premium (not ~42%) ?


darpa11
12/20/2010 12:06:04 PM | | 5 reads | Post #29013651
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Market Cap close of day last Friday was ~$10M (25.26M shares x $.42 close price = $10.61M [according to finance.google.com]) --> Offer is for ~$34M (isn't it ??) --> If so, that's an offer that is greater than three times Friday's close. What am I missing here ? Why does the press release state a 41.8% premium and not a 300% premium ? Are they using a 'close price' that is greater than .42/share due to some after-hours trading somewhere ? Help appreciated.

"VANCOUVER - NovaGold Resources Inc. (TSX:NG) is planning to make a takeover offer for junior exploration company Copper Canyon Resources Ltd. (TSXV:CPY) worth $34.1 million.
NovaGold said Monday that the offer represents a 41.8 per cent premium based on the closing price of Copper Canyon common shares and NovaGold common shares on the TSX and TSX Venture Exchange on Dec. 17."
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