Copper Fox?I would be interested in your take on a stock/company based in canada known as Copper Fox CUU.V. A large land package with BFS ready to published on SEDAR. A 20%- 70% back in deal with TECK begins with the official release of the BFS to TECK. Currently trading at $.87 per share; 65- 70% inside owned.
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You sound like you have a better grasp of the company than I do since on my quick once over I haven’t seen the % of shares held by insiders. Quite a high share count aprox 400M for a project at this stage. The company has raise aprox $8M from insider since July 31 so they definitely believe in this.
There is a crazy amount of transactions in the last month involving David Morris Macdonald. He sold at .80 to .84 and bought back at .61 to .94. Most of his buys were mostly in the .70’s. I wonder what that was about.
Looks like Royal Gold has a 3% royalty on part of the production.
Location is good and the resource is big enough.
One thing I found interesting is they have a property adjacent to Red hawk Resources in Arizona. I own and shares of Red Hawk and like them quite a bit so this might be a bonus for Copper Fox.
Thanks for bringing this to our attention really looks interesting.
I have looked a bit more into it. In particular I listen to Management’s conference call about the Schaft Creek Project Feasibility Study they released in December.
The positive Feasibility Study is the major catalyst with their agreement with Teck. When Copper Fox presents Teck with a positive Feasibility Study Teck has 120 days to notify Copper Fox on what they wish to do. They have three options 1) Teck can get a 1% net smelter return royalty, 2) receive shares of Copper Fox worth $1,000,000 or 3) take on 20, 40 or 75% of the project. If Teck go for option three they will have to arrange financing for the whole project. If Teck does not respond within 120 they lose any rights to the project.
The Feasibility Study has yet to be presented, as of January 22, 2013 to Teck or posted on Sedar. Not sure why.
Management stated on the conference call that their intent is to sell their portion of the project.
Thanks for your feedback. There is a discussion group at agoracom.com. Type in cue and you’ll link into blog. Many informed as well as beginners trying to read the bread crumb trail. Bob
ERROR : Please type in CUU to access blog at argoacom.com. Bob
Thanks Robert. One poster in particular is quite informative.