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Gold/Mining/Energy : Copper Fox
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From: louel1/1/2015 7:09:37 PM
3 Recommendations

Recommended By
Hog Head
Nav2006
Theotokos

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Everybody thinks Shaft Creek should have done better. And should be nothing but a vault of money.
I have said it will be a mine in the right hands. Just because it becomes a mine does not mean it will be a fantastic operation.
A PFS. is a report by a few professionals to see if there is a chance it can become a viable operation. Pre Feas's have had and are acceptable if discrepancy rates are within 30% , research it. It is a fact

Explorers proceed based on that info. Some are improved and others are diminished when the final far more detailed BFS is produced. In this case it got worse.

The BFS, was not produced or influenced by Copper Fox or Teck. It was done by Tetra Tech. A totally independent separate company. They do what they do as honestly & accurately as possible. They are used because they are trusted. Google "Tetra Tech BFS" they come up all around the World.

So forget the PFS. It is not a document a sale is based on. When it was released I posted on S/H it was impossible and would not hold water. The reply was I should stop embarrassing my self with such posts. Just ask Elmer. The BFS is the most up to date and Accurate.

The BFS states 10.1 IRR. , 8.3% post Tax. Those calculations were when all mineral prices were far higher than they are today. Presently it could not survive if it were in operation.
There are a couple of other things. To subtract from the IRR. BFS, 22.7 ROYALTIES : " No royalties are considered in this financial analysis. "

Then there is the Mineral Tax act. Where New mines since 1994 have been able to write off 133% of pre production costs under Section 9 Cumulative Expenditures Account. That benefit is set to expire in 2016. Miners hope it will be extended, but there is no guarantee. I spoke with one of our elected members of the BC legislature about it. He said we will have to look at it closer to the due date, to see how much benefit came from it's implementation before we decide to extend or not. Teck will certainly be keeping an eye on that over the next year, considering the minimal margin in this project.









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