What is going on with CPFXF?
Copper Fox Metals Inc. (CPFXF) announced the results of a Preliminary Economic Assessment (PEA) for the Schaft Creek copper-molybdenum-gold-silver porphyry deposit located in Tahltan Territory in northwestern British Columbia.
The Schaft Creek Project covers 55,779.56 ha of mineral concessions, and is located approximately 60 kilometers south of Telegraph Creek near existing transportation and energy infrastructure.
The project is managed through the Schaft Creek Joint Venture formed in 2013 between Teck Resources Limited (75%) and Copper Fox (25%), with Teck being the Operator. The PEA was prepared by Tetra Tech Canada Inc. as the general contractor on behalf of Copper Fox.
Shares of CPFXF increased 1.92% to $0.25 as of Monday at 12:26pm.
What does this mean for Copper Fox Metals?
Some of the highlights from the PEA include: Pre-Tax Net Present Value of $1.4 billion and Internal Rate of Return of 15.2%, After-Tax NPV of $842.1 million and IRR of 12.9%, Average annual EBITDA of $695.4 million based on the first 5 years (Years 2-6) at full production, and $10.8 billion Life of Mine.
Elmer B. Stewart, President and CEO of Copper Fox, stated, "We are very pleased with the results of the PEA and the recommended program work of C$23 million that could be considered by the Operator to advance the Schaft Creek Project to the Pre-Feasibility Study stage of study and evaluation."
"The significantly higher investment returns, resulting in part from project enhancements developed over the past 2 years, and remaining resources in the deposit on completion of the first 21 years of mining, provides a compelling view of the Schaft Creek Project's financial potential."
The life of the mine is estimated at 21-years, producing approximately 5 billion pounds of copper, 3.7 million ounces of gold, 226.0 million lbs of molybdenum, and 16.4 million oz of silver in concentrate.
CPFXF has a Short-Term Technical Rank of 84. Find out what this means to you and get the rest of the rankings on CPFXF!
Copper Fox Metals Inc is Canadian based resource company. It is focused on the exploration and development of large, low-cost copper-gold projects in Canada and the United States. The company primary assets are its interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia, the Van Dyke oxide copper deposit located in Globe-Miami Mining District in Arizona, Sombrero Butte Project, Mineral Mountain is located in the Mineral Mountain Mining District, Pinal County, Arizona, and Eaglehead Project.
