Core Viewpoint - Copper Fox Metals Inc. reported a net loss of $533,545 for the six months ended April 30, 2024, maintaining a loss per share of $0.00, similar to the previous year [1][2]. Financial Performance - For the six months ended April 30, 2024, the company incurred exploration expenditures of $620,331, focusing on several copper projects including Van Dyke, Mineral Mountain, Sombrero Butte, and Eaglehead [2]. - As of April 30, 2024, the company's cash position was $174,966, a significant decrease from $1,368,852 as of October 31, 2023 [14]. Project Updates - The Van Dyke project is advancing towards the prefeasibility study (PFS) stage, with the permitting process finalized for a maiden drilling program at the Mineral Mountain project [3]. - The Schaft Creek Joint Venture (SCJV) has initiated a comprehensive annual program with a budget of $18.7 million, aimed at progressing towards the PFS [4][5]. - Positive preliminary results from the Sombrero Butte project support the presence of a large copper porphyry system [3]. Management and Governance - The company appointed Mr. Manuel Gomez Rubio as an additional director and retained Mr. Fidel Ricardo Montagu Thomas for investor relations services [6][7]. Technical Developments - The Van Dyke project has installed vibrating wire piezometers for hydrogeological data collection, with preliminary results from laboratory strength testing expected soon [8]. - The Mineral Mountain project has identified three areas of higher chargeability within an 18 milliradians chargeability anomaly, indicating potential porphyry copper centers [9]. Recent Transactions - The final installment payment of $330,000 for the Eaglehead project acquisition was completed [10]. Upcoming Activities - The 2024 field program at the Schaft Creek project is currently underway, focusing on advancing key project parameters and completing technical activities [11].
Copper Fox Announces 2024 Second Quarter Operating and Financial Results