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Copper Fox Announces 2019 First Quarter Operating and Financial Results
Calgary, Alberta--(Newsfile Corp. - March 22, 2019) - Copper Fox Metals Inc. (TSXV: CUU) (OTC...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Announces 2019 First Quarter Operating and Financial ResultsCalgary, Alberta--(Newsfile Corp. - March 22, 2019) - Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) (\"Copper Fox\" or the \"Company\") is pleased to announce that its unaudited interim consolidated January 31, 2019, financial statements have been filed on SEDAR. All of the Company's material subsidiaries are wholly owned, except for District Copper Corp. (\"District\") (TSXV: DCOP), of which the Company owns 24.43% of the outstanding common shares as of March 22, 2019. The unaudited interim consolidated financial statements include 100% of the assets and liabilities related to District and include a non-controlling interest representing 60.49% of District's assets and liabilities not owned by the Company, which was the non-ownership percentage of District by Copper Fox as of January 31, 2019.For the three months ended January 31, 2019, Copper Fox had a net loss of $195,607 (January 31, 2018 - $213,774) which equated to $0.00 loss per share (January 31, 2018 - $0.00 loss per share). During the three months ended January 31, 2019, the Company incurred $262,128 in expenditures toward furthering the development of its Schaft Creek, Eaglehead, Van Dyke, Sombrero Butte and Mineral Mountain copper projects. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, the Company's web site at www.copperfoxmetals.com or by contacting the Company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases. All amounts are expressed in Canadian dollars unless otherwise stated.Elmer B. Stewart, President and CEO of Copper Fox, stated, \"The multi-disciplinary team established by the Schaft Creek Joint Venture (\"SCJV\") in 2018 to describe and further characterize several development scenarios for the Schaft Creek deposit will continue its work in 2019. The SCJV plans to strengthen the project management team to complete additional scoping-level engineering and design work based on the 2018 program to assess opportunities associated with a range of development scenarios, the focus of which is to improve financial returns over those outlined in the 2013 Feasibility Study. Positive exploration re...