Copper Fox Metals Inc V.CUU

Alternate Symbol(s): CPFXF

Metals & Mining Industrial Metals & Minerals

Copper Fox Metals Inc. is a Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of the Company and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and the 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. Its other projects include the Eaglehead Project, the Sombrero Butte Project, and the Mineral Mountain project. Eaglehead is an advanced exploration stage polymetallic porphyry copper project located about 50 kilometers (km) east of Dease Lake in the Liard Mining District, British Columbia, within Tahltan territory. Sombrero Butte is a Laramide age, exploration stage, porphyry copper project located in the Bunker Hill Mining District.

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Copper Fox Metals Inc

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Comment by METACOMETon Aug 18, 2011 12:43pm

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Post# 18956560

RE: market news

Actually, TECK does not have to make a cash payment to back in.
They back in for nothing except saying that they are doing it.
What they do have to do, assuming they want the max 75% position, is contribute to the TECK/Copper Fox mine development JV capex, an amount 4 times the amount expended CUU incurred in exploring and producing a positive BFS, currently around $260 million.
CUU gets no cash payment. They get a credit on their share of the joint mine costs.
The balance of their 25% share of the joint mine capex is also underwritten by TECK, with reimbursdement to be taken from the CUU share of mineral sales.

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