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Copper Fox Announces 2019 Fourth Quarter Operating and Financial Results
Calgary, Alberta--(Newsfile Corp. - January 28, 2020) - Copper Fox Metals Inc. (TSXV: CUU) (O...
About this update from Copper Fox Metals Inc.
[{"type":"text","content":"Copper Fox Announces 2019 Fourth Quarter Operating and Financial ResultsCalgary, Alberta--(Newsfile Corp. - January 28, 2020) - Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) (\"Copper Fox\" or the \"Company\") is pleased to announce that its audited annual consolidated October 31, 2019 financial statements have been filed on SEDAR. All of the Company's material subsidiaries are wholly owned, except for District Copper Corp. (formerly named Carmax Mining Corp.) (\"District\") (TSXV: DCOP), of which the Company owns 24.3% of the outstanding common shares, which is accounted for as an investment in associate.For the year ended October 31, 2019, Copper Fox had a net loss of $2,626,031 (October 31, 2018 - $1,368,128) which equated to $0.00 loss per share (October 31, 2018 - $0.00 loss per share). During the year ended October 31, 2019, the Company incurred $665,436 in expenditures toward furthering the development of its Schaft Creek and Van Dyke projects and the exploration of its 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 2019 work has advanced efforts to surface value in the Schaft Creek Joint Venture and significantly advanced the potential of the Arizona copper projects. The Schaft Creek project team investigated the 133 ktpd scenario recommended by the 2018 Sizing and Infrastructure study. On Copper Fox operated projects, the Mineral Mountain and Sombrero Butte copper projects have been advanced to the next stage of exploration and an updated resource estimate for the Van Dyke project is expected in Q2 2020. The Company will continue in 2020 to employ the strategy of \"potential maximum value added per dollar invested\" to position the Company to take advantage of increases in either M&A activity or copper prices.\"2019 Q4 Highlightsa) At Schaft Creek, the work focused on an in-depth review of the 133 ktpd sce...