- Copper Fox Metals (TSXV:CUU) has released their operating results for Q1 of 2020
- Copper Fox announced a net loss of C$205,572
- The company has $189,000 in cash
- The company closed the first tranche of the $1.8 million private placement to shareholders, with final closing on April 24
- Copper Fox (CUU) is down 8.3 per cent at 5.5 cents per share with a market cap of $26 million
Copper Fox Metals Inc (TSXV:CUU) has announced their Q4 2020 results, with the company showing a net loss of C$205,572 for the quarter.
Copper Fox are a copper exploration and development company, focused on North America.
Their primary assets are their wholly owned subsidiaries, Northern Fox Copper and Desert Fox Copper.
Desert Fox have a 25 per cent stake in the Schaft Creek joint centure with Teck Resources at the Schaft Creek Copper and Gold project in Northwest BC.
Copper Fox recently closed the first tranche of their $1.8 million private placement to shareholders, with the final closing of the private placement scheduled for April 24.
The company has announced it has $189,000 left in the bank.
The company spent some $83,000 on furthering the development of it’s Shaft Creek, Van Dyke, Sombrero Butte and Mineral Mountain copper project.
President of Copper Fox, Elmer B Stewart, said that the company had focused on completing the Schaft Creek Joint Venture.
“On Copper Fox operated projects results have exceeded expectations, with the most significant achievement being the reporting for the first time an indicated resource category and a 50 per cent increase of soluble copper content at the Van Dyke project.
“The proposed acquisition of an Eaglehead copper project provides a re-entry into northern British Columbia, a proven copper district, as an operator, an area with which Copper Fox is very familiar,” he said.
Copper Fox Metals (CUU) is down 8.3 per cent at 5.5 cents per share, as of 11:50 am EST.