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Gold/Mining/Energy : Copper Fox

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To: dsikorsk who wrote (10529)	8/5/2018 12:24:06 PM
From: louel	of 10654

Good to see there is still a few who check in. I was almost ready to delete the forum. TSX V is down around700, near the same level it was in the crash of 09. Recently I have stuck to those over 50 cents and a share count of less than 150M and must be in an uptrend having created at least one higher low. even then I seek smaller profits rather than trying for big runs. Our calculations on Shaft Creek, of course are like any one else's based on limited info. There I expect will be adjustment after optimization and other studies are completed. No different than what happened at Galore between 2005 and the 2011 prefeasibility report. Which caused Newmont to purchase NG's portion. With Newmont forking over $275 M. Galore in 2005 reported 13.7 M oz of Au and 12 B lb Cu. That was prior to the purchase of Copper Canyon holdings plus they holds the option on the pioneer and other nearby claims. The resource is far from fully explored. Optimization studies have been completed and the Prefeas updated in 2011. Total estimated costs were reduced, Mill was relocated to Westmore valley, water problems and waste problems remedied. And transport reduced by locating drying plant out at 8 km. Below is a picture of what Newmont bought 50% of and have committed with Teck to spend another 50 to $80M on over the next 4 years to prove up and streamline. One can use it to compare with what is known at Shaft Creek Being Newmont is second only to Barrick in gold production world wide. Both partners well funded. It is a good chance they intend to seriously look at future production. The new $80m now tendered, is near the total shaft creek budget. I do not believe Teck is capable of developing the two projects at the same time. I also suggest Newmont would have sought some kind of commitment from Teck before such a cash outlay. Big companies have a gambe on any project. But it is a very calculated one, where a lot of footwork first takes place. Tunnell is described in #18 novagold.com

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