Copper Fox Metals CEO: Developing an Asset and Monetizing it at the Right Time

According to Stewart, the Shaft Creek project is very sensitive to copper prices into foreign exchange prices, with a 25 cent per pound increase in the price of copper driving the life-of-mine EBITDA by about US$900 million and the free cash flow by an additional US$700 billion.

"We're focusing on collecting metallurgical samples to do more testing to try and reduce the processing costs and hopefully increase overall metal recoveries," Stewart said.

"Our most advanced-stage project is Shaft Creek. And our objective is to be in production. We are going to continue to monitor and we're very pleased with the way the value has increased. We think that the work being done in 2021 is probably going to add more significant value to the project until it becomes fair value territory. We'll decide on if we're going to monetize that now."

Stewart explained that it is not the company's strategy to become a miner. He said Copper Fox is more inclined to develop the asset and then monetize it at the right time.

"We rounded out our portfolio projects this year when we acquired the Eagle project. We now have identified very large porphyry copper targets, and they're ready for drilling in early 2022. The objective of the 2022 program would be to hook up or link up the mineralization so we can establish a zone of mineralization that's approximately 1,500 meters of strike length. We think the projects have big potential with defined large deposits, and with what we've seen so far we think we're on the right track."

Watch the full interview of Copper Fox Metals CEO Elmer Stewart above.

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