Large Copper Project JV with Teck
Elmer Stewart, President & CEO of Copper Fox Metals, explains this resource company’s goals for the next year.
Our focus is simply copper projects and particularly large copper projects porphyry systems with copper and gold in them, because the gold is the economic driver. Our projects were located in two places, Northern West British Columbia where we have two projects. The other projects in Arizona, it’s in what they call the Laramide Copper province and we have three projects down there.
Tech is our joint venture partner at Schaft creek. We developed Schaft creek to the point where we deliver the feasibility stage study. You need an operator like Teck to move it forward. We did a feasibility study at a 130,000 tonnes a day and that’s a big project. That’s about the similar size to what they have at Highland Valley. They’re spending $60 million and we’ve got a free carry on it and we got milestone payments and if there is a production decision they need to put up all the money on behalf of Copper Fox to carry us through the production.
Our plans for 2017 are obviously to complete the work at Schaft Creek with our joint venture partner Teck and then continue to work on the Van Dyke project. Because it’s an advance style of ISL project in Arizona and look for partners on the United States properties and our investment in Carmax mining. We are going to keep that project for ourselves for the time being.
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