No idea how Elmer calculates our yearly expense requirements at $1.2 million.....
Fixed costs to maintain operations, pay taxes and upkeep on the Arizona properties are approximately $220,000 per annum; including an annual payment to Silver Nickel for Sombrero Butte of approximately $147,000 CDN. Total corporate and general costs were approximately $1,200,000 in 2013 and 2014.
Here are our actual expenses from the last 2 years:
COPPER FOX METALS INC.
Consolidated Statements of Comprehensive (Income)/Loss
Years ended October 31, 2014 and October 31, 2013 Years Ended
| October 31, 2014
| October 31, 2013
| Expenses:
| Administration
| $ 1,422,530
| $ 1,560,857
| Depreciation, amortization and accretion
| 42,391
| 121,986
| Professional fees
| 1,065,889
| 957,897
| Share based compensation
| 259,610
| 117,089
| Interest income
| (56,976)
| (25,641)
| Net loss before income tax
| 2,733,444
| 2,732,188
| |
