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Gold/Mining/Energy : Copper Fox

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To: Metacomet who wrote (9533)	5/11/2015 1:21:04 PM
From: Hog Head	Read Replies (1) of 10654

With water availability dropping to emergent levels, I don't think its prudent to proceed with the PEA for VD. Why throw good money after bad? With going underground as the apparent plan going forward - this is going to be an expensive undertaking for whomever wants to put this into production. Add to this the fact that no one has used ISL for copper mining, and you see there are many caveats to overcome. Anyone buying the project will see the hurdle to clear for water and the likely pushback when the town figures out sulfuric acid and pregnant leachate will be pumped in and out near/through the aquifer. A head in the sand approach to obvious hurdles, and hoping they can find a sucker to buy it that won't do any research is a big stretch and likely going to result is further cash down the toilet. Likely we were the sucker buying this in the first place, let alone the 7 million or so spent so far... All we have really done is confirm the historical estimate and that the copper will dissolve well. Some suggest we can sell to a local producer that already has water - but if they were interested they would have bought it for the million we paid for it. The local operations know all too well the issues we face. The thought of us doing some historical confirmations and a PEA and all of the sudden we have a very valuable property is nuts IMHO. If (and thats a big IF) climate change is changing precipitation patterns, Arizona (and California) may be in for some serious pain. Management has a penchant for spending, it seems if they have some cash in the coffers they have to find a way to spend it ASAP. Some people can't manage their money, and the track record isn't good for frugal handling of shareholders investments, IMHO.

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