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Article Excerpt
M2 PRESSWIRE-25 September 2007-Copper Fox Metals Inc: Copper Fox Metals Inc. Announces Third Quarter Results and Expenditures in Excess of $15 Million on the Schaft Creek Property(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:24092007
Calgary, Alberta CANADA /FSC/ - Copper Fox Metals Inc. (CUU - TSX Venture), ("Copper Fox" or the "Company") announces its third quarter results for the three months ended July 31, 2007.
Copper Fox has filed, on SEDAR, quarterly unaudited financial statements for the three months ended July 31, 2007 along with the related Management Discussion and Analysis.
Mr. Guillermo Salazar, President and Chief Executive Officer, announces that the Company incurred a loss from operations for the three months ended July 31, 2007 of $1,012,528 related to the ongoing activities of the Company in its third quarter. In addition, the Company incurred $5.4 million of expenditures on its Schaft Creek mineral property. The Company surpassed the accumulated expenditure of $15 million on the property in the third quarter of 2007 thereby achieving the second threshold of the Schaft Creek Option, the 70% direct interest of Teck Cominco Limited. The Company received an additional $1.8 million...
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