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Gold/Mining/Energy : Copper Fox -- Ignore unavailable to you. Want to Upgrade?

To: louel who wrote (9713)	11/26/2015 12:48:34 PM
From: explorationguy	2 Recommendations Recommended By biggerbob68 Hog Head Read Replies (1) \| Respond to of 10654

The inferred numbers are based on drill holes and remain in that category until infill wells are drilled to establish better spatial continuity of the cu mineralization. There is only a 10% probability that the number would be exceeded so further drilling and upgrading of inferred resource is required to either the PFS or FS stage. Then the measured or indicated resource numbers can be booked as reserves. The US SEC does not recognize or allow US companies to report any of the resource categories for US based companies. They can only report reserves. I wonder if it's necessary to establish a reserve estimate before you can sell a property in the US. The most recent example I know of is the Rosemont deposit purchased by HudBay in Arizona, which had reserves booked. Your point about the need for capital going forward is very valid.