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Copper Fox Metals began corporate life with an initial public offering in June of 2004, in order to pursue plans to acquire one of the largest undeveloped copper-gold-molybdenum porphyry deposits in Canada. Founding President and Chief Executive Officer Guillermo Salazar believed that the Schaft Creek Project in northwestern British Columbia offered a rare opportunity for a junior company to acquire and develop an extensively drilled project with near-term production potential, and secured rights to the project in 2002. In 2005, Copper Fox amalgamated with a private company holding rights to acquire up to a 93.4% interest in the Schaft Creek Project as defined in the 2002 Option Agreement with Teck Cominco Ltd. and related underlying agreements. Copper Fox assumed the rights and obligations of these agreements and then completed exploration and drilling programs that confirmed both the potential of the project and the quality of historical work. Copper Fox was founded by experienced mining industry professionals and today is managed by an energetic technical and management team with expertise in mineral exploration, mine engineering, operations, finance and corporate development. Their priority goal is to complete a positive feasibility study for a proposed open-pit mine that could begin production by 2011. This effort is bolstered by strong demand and prices for copper, gold, molybdenum and silver, and is supported by extensive work programs and studies conducted on the property by the Company (and previous operators). Copper Fox Metals has achieved the following major milestones as part of its ongoing multi-phase strategy to advance Schaft Creek toward production. | |||
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