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Gold/Mining/Energy : Copper Fox
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To: louel who wrote (9695)11/6/2015 2:03:07 PM
From: brundall5 Recommendations  Read Replies (2) of 10654
 
At what point does Ernesto get pissed off with what is happening here? I am betting never and therein lies the problem of having an extremely wealthy benefactor.

You are correct in predicting another 4 or more years before an EA permit is issued (or if at all).... I am sure that is not what Ernesto had in mind when he invested his $20 million or so here...but $20 million to him is like you or me dropping a $100 bet on a trifecta at the Kentucky Derby. It's simply gambling money.

Giving away 75% of this deposit to Teck for 2 years or so worth of working capital was an astoundingly bad decision in hindsight. Teck is now stalling imo (as is their right), by drilling in all the wrong areas, re-logging historical cores, confirming FS results that they already knew and generally waiting out this economic cycle and maybe the next. Looking busy but doing nothing...it's an art form.

imo the only hope for Copper Fox surviving as a going concern is to somehow sell VD after the PEA results are released.....but whose going to trust those results after everyone saw what happened to the Schaft Creek PEA?

They need a miracle and Ernesto stepping in as an active participant is extremely unlikely....imo he has already written this off as a bad debt.
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