From the md&a....significant expenditures and dilution ahead folks. No end in sight for Schaft Creek. Existing shareholders are watching their investment dwindle over time, probably to zero I'm afraid. It was all a mirage.
Working Capital As at October 31, 2015, Copper Fox had working capital of $1,467,508 (October 31, 2014 – $6,301,944). The working capital decreased from October 31, 2014 to October 31, 2015 due to expenditures incurred by the Company. The Company has managed its working capital by controlling its spending on its properties and operations. Due to the on-going planned advancement of project milestones for the Van Dyke and Eaglehead projects over the near term, Copper Fox intends to continue to incur expenditures without revenues, and accumulate operating losses. As a result, the Company needs to obtain adequate financing to fund future exploration and development and the potential construction of a mine, in order to reach profitable levels of operation. It is not possible to predict whether future financing efforts will be successful or whether financing on favourable terms will be available.
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