RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Huge Insider SELL OK, I guess I just answered my own question about the status of the Shaft Creek Mine Project. Located this info that reported Feb 29,2024.
Schaft Creek JV in British Columbia advances to prefeasibility stage - MINING.COM The Schaft Creek joint venture – 75% Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) and 25% Copper Fox Metals (TSXV: CUU) – is advancing the copper-gold-molybdenum-silver project to the prefeasibility stage.
The project is located in northwest British Columbia about 60 km south of Telegraph Creek and near an existing seaport. The study is due by the end of 2024 or early 2025.
A preliminary economic assessment (PEA) was done for Schaft Creek in 2021. At that time, a pre-tax net present value with an 8% discount was $1.4 billion and the internal rate of return was 15.2%. The after-tax NPV8% was $841.1 million and IRR was 12.9%.
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So clearly nothing earth shattering is occurring at Shaft Creek for at least another 2 to 5 years!
And the after-tax NPV of $841.1 million and IRR of 12.9% in 2021 is nothing stellar either considering that CUU's 25% share is about $210 million of the $841 million. Of course with copper and gold prices being much higher than in 2021 that would add more value, maybe double that amount but with a 560 million shares float that puts CUU fully valued shares at between .50 and .80 cents. Roughly 2 to 4x times today's trade price if you've got 2 to 5 years to wait. Of course their other properties add value but how much? The way I see it, anyone who managed to get out of CUU during the recent share price rally at break even or a profit should consider themselves lucky.
Someone wake me up again in 2029 and I'll recheck the CUU share price again...Lol.
My opinion only, please DYODD.
HB77