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Copper Fox Metals Inc V.CUU

Alternate Symbol(s):  CPFXF

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.


TSXV:CUU - Post by User

Bullboard Posts
Post by Ecrevisseconon Jul 24, 2020 1:42pm
488 Views
Post# 31315410

A Breach of Good Corporate Governance

A Breach of Good Corporate GovernanceThere are no words this morning to express the frustration, even the anger, at CUU's lack of good corporate governance towards its shareholders.  The press release that was published yesterday afternoon after markets closed is a clear indication of a total lack of respect for those who are not insiders, warrants holders and especially the majority shareholder of the firm, Mexican billionnaire Ernesto.  The fact that the accelerated warrants would have provided CUU an additional 2.5 million dollars in much needed revenues either to develop the Arizona properties or to consolidate the data for Schaft Creek does not seem to motivate the Board of Directors at all.  This is a real joke!  We, the long-term shareholders, have suffered a dilution of 5.91 % when the warrants were issued last Spring but we accepted this decision in return for added cash flow to the firm and the avoidance of further private placements in the near future.  The waiver simply slaps all those investors in the face and puts the number one priority of CUU into the benefits of Ernesto alone, not of the firm.  Notwithstanding the fact that there seems to have been absolutely no progress on the negotiations with TECK about the 2018 and 2019 joint venture program results, and that CEO Stewart Elmer was actually on holidays all of last week when the most crucial decision for material value on CUU was supposed to be delivered, it would be fair now to reduce our share position in this organisation to express our clear discontent to its directors.  Which I have begun to do today and will wait to see if faith and trust in this organisation can be restored later...
Bullboard Posts