Monday, February 25, 2013

When in massive big hole ... Dig Deeper

Copper Fox Metals - CUU.v has announced yet ANOTHER PP with Earnesto, and yes indeed it's the 9th consecutive capital infusion from Mr. Enchavarria and truly ... why doesn't he just fork over every nickle he has left right now to get this stupidity over with?

"Copper Fox Metals Inc., subject to the approval of the TSX Venture Exchange, intends to complete a non-brokered private placement to raise up to $2.5-million. The offering is expected to consist of 3,164,557 units at a purchase price of 79 cents per unit, for aggregate gross proceeds of $2.5-million. Each unit consists of one common share and one common share purchase warrant of Copper Fox. Each warrant entitles the holder thereof to acquire one common share of Copper Fox at an exercise price of $1 prior to 5 p.m. on the one-year anniversary of closing of the offering.

Ernesto Echavarria, a director, insider and control person of Copper Fox, as defined by the policies of the TSX Venture Exchange, has committed to 100-per-cent participation of this offering.
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aCUU-2042293&symbol=CUU®ion=C
There was another rock bottom PP announced yesterday in CUU.v land with moneybags Earnesto stepping up to the plate for the 8th consecutive time. Lord knows what his "investment" strategy is about.

Today we have news of a swack of options being extended and Geeze Louise the grossly stuck retards at AgoraScam are falling over each other with unbridled glee, naturally.

Minor things like money and/or the lack of it turn our cranks so twas off the financials for a look-see. Nada good idea as there is ample fuel to make one wonder what sheeple actually SEE in this paper yet again.

Company is smack dab on the road to the audited for the fiscal year and the info is many months stale, presumably the next won't appear until the end of February.

At first glance we can tell this Co is burning around $ 3m per annum on overhead alone and at July 31, 2012 had a working capital deficit of $1,616,527. Thanks to the ridiculous ongoing support of sugar daddy Earnesto another cash crisis was averted, but damn, how does one go about reigning in that wicked overhead? Best we don't ask Elmer, he's been doing VERY well of course, thanks for asking.

We have a pee pot full of rock bottom options that are fully vested and yikers. Unknown if these are the ones being extended but who cares. This deal both sucks and blows and it's getting more ridiculous every day.

$0.10 Jul-09 Jul-14 1,000,000
$0.15 Oct-09 Sep-14 3,150,000
$0.15 Nov-09 Sep-14 500,000



Sunday, February 10, 2013

Modern Gold Rush - Sudan


"AL-SIREAF, Sudan, Feb. 1 (UPI) -- Over 100,000 people have fled a battle over a gold mine between two Arab communities in Sudan's Darfur region, the United Nations said. The latest is over gold deposits in the northern area of Darfur, the BBC reported Friday.

Many of the recent refugees are living outdoors in what the United Nations described as appalling conditions, adding it sent 600 tons of food and blankets to the town of al-Sireaf to aid them.

http://www.upi.com/Top_News/World-News/2013/02/01/Thousands-flee-Darfur-battle-over-gold/UPI-76301359748032/


"The fighting broke out last month in the Jebel Amir gold mining area.
"The fight is between the Beni Hussein, who are largely cattle herders, and the northern Rizeigat, a powerful tribe known for its camel herding. Scores of people have been killed and dozens of villages burned, according to the local authorities. Members of the Beni Hussein tribe accused government forces of helping the Rizeigat and giving them powerful weaponry. "

http://www.nytimes.com/2013/02/02/world/africa/thousands-displaced-in-darfur-as-tribes-battle-over-mine.html?_r=0
______________________________________

KHARTOUM, Nov 27 (Reuters) - Sudan expects to produce around 50 tonnes of gold this year, earning $2.5 billion, its mining minister said, as the country seeks to offset the loss of most oil reserves when South Sudan became independent last year.

Sudan is boosting production of gold and other minerals to gain new sources of state income and of foreign currency needed to fund imports. Output of 50 tonnes could potentially make it Africa's third largest gold miner behind South Africa and Ghana, and push it into the top 15 producers globally.

"The government has given conflicting data on Sudan's gold production which is hard to verify as much comes from half a million artisan seekers, part of whose output is smuggled abroad.

The central bank has tried to end smuggling of gold to major markets such as Dubai by buying up gold from local traders, even above market prices, according to industry sources." On December 12, 2012 the Central Bank imposed a ban on gold exports.

Sudan is among Africa's poorest countries, but is sitting on top of perhaps the largest gold reserves in the continent, according to a recent survey by Arab League's Arab Industrial Development and Mining Organization (AIDMO).
Not surprisingly there is conflict. "Khartoum - Heavy fighting has broken out between two tribes over a gold mine in Sudan's Darfur region, killing several people and forcing authorities to close the mine, tribal leaders and state media said on Wednesday."