Afternoon all, just checking back in after a long while with a few interesting points from the last financials.
1. It appears that Copper Fox's holdings of Liard shares were written down to a fair market value of $106,825 from $759,305 in 2015.
Copper Fox directly owns 29,342 Liard shares representing 1.55% of the total Liard shares issued. Each Liard share is thus worth approx. $3.641 ($106,825/29342). There are approx. 1.893 million Liard shares issued in total giving a valuation to Liard Copper Mines ltd of $6,892,413. This is down from almost $49 million in 2015.
Liard's only asset is a 30% net proceeds interest in Schaft Creek, so that asset has a fair market value of just $22,974,710 according to Teck and Copper Fox......
2. Salaries and consulting fees for 2016 still totaled $484,398
3. As of Feb 24th 2017 the company only had $328,073 in cash remaining....a burn rate of $130,000 per month since Oct 31st 2016 ($847,505)....drunken sailors??? Therefore, by approx. end of April 2017 they will be completely out of cash again.
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