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Gold/Mining/Energy : Copper Fox
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To: Hog Head who wrote (9222)2/10/2015 1:23:43 PM
From: brundall1 Recommendation

Recommended By
Hog Head

   of 10654
 
I guess it all depends on whether or not Elmer has an interested party for the Van Dyke deposit.

As of July 31st 2014 we had spent $7 million on Van Dyke including acquisition costs....add to that the resource estimate and other expenses since then and we are currently looking at around $10 - $12 million in sunk costs. If a rushed PEA using inferred resources could get us a quick sale in the $20 - $30 million range by one of our close neighbours in Arizona familiar with the local geology and leaching techniques....then why not.

Copper Fox needs the additional cash to last us until the current Schaft Creek care and maintenance program has run it's course.

If we do not have an interested party then proceeding directly to an inferred PEA would be rash move imo. Take the year to drill, log and compile the results and then pump up an overinflated PEA ala Schaft Creek. Maybe someone will create another blog and we'll see another SP spike in 2016

The only question is who will pay for the additional work program? The tax rebate is nowhere near enough cash to cover the costs.
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