Copper Fox Metals CEO Elmer Stewart shares the company’s plans for the future and discusses the PEA for the Schaft Creek project.
Copper Fox Metals (TSXV: CUU, OTC Pink: CPFXF) announced the results of a preliminary economic assessment (PEA) for the Schaft Creek copper-molybdenum-gold-silver porphyry deposit located in the Tahltan Territory in the north -Western British Columbia.
The PEA reveals the financial potential of the project, and Elmer Stewart, CEO of Copper Fox Metals, has joined the Investing News network to share the company’s plans for the future.
According to Stewart, the Shaft Creek project is very sensitive to copper prices in foreign exchange prices, with a 25 cents per pound increase in the price of copper resulting in the life of mine EBITDA of around 900 million. US dollars and free cash flow of an additional US $ 700 billion.
“We are focusing on collecting metallurgical samples to perform more testing in an attempt to reduce processing costs and hopefully increase overall metal recoveries,” said Stewart.
“Our most advanced project is Shaft Creek. And our goal is to be in production. We will continue to monitor and are very happy with how the value has increased. We believe that the work underway in 2021 is likely to add more value to the project until it becomes fair value territory. We will decide if we are going to monetize this now. “
Stewart explained that it is not the company’s strategy to become a miner. He said Copper Fox is more inclined to develop the asset and then monetize it at the right time.
“We completed our portfolio of projects this year with the acquisition of the Eagle project. We have now identified some very large porphyry copper targets, and they are ready for drilling in early 2022. The goal of the 2022 program would be to hook or re-connect the mineralization so that we can establish a zone of mineralization of approximately 1,500 meters of strike length. We think the projects have great potential with big defined deposits, and with what we’ve seen so far, we think we’re on the right track.
Watch the full interview with Copper Fox Metals CEO Elmer Stewart above.
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