Copper Fox Metals (CVE:CUU) annouced today a $6m financing that would consist of over 106m units consisting of a share and a full warrant. Ernesto Echavarria, a Mexican businessman has committed to a $5m investment which would give him control of the company. The financing will be subject to ratification at a special meeting of CUU shareholders in July, 2009
Copper Fox’s Schaft Creek property in northwest British Columbia, Canada, was the subject of a preliminary feasibiliyt study issued September 2008. The study indicated the project could procude over 4.5 billion pounds of copper, 250 million pounds of moly and almost 4.5 million ounces of gold over a 22 year mine life with a pretax NPV of $2.7 billion discounted at 8%
