Copper Fox Metals (TSXV:CUU) said its Schaft Creek copper project in British Columbia will have a nominal milling capacity of 130,000 tonnes per day over a 21-year mine life, according to the most recent feasibility study. That is an increase of 30 percent from the September 2008 study, as well as a 20 percent increase in the capital expenditure expected on the project. The mine is expected to produce a total of 4.88 billion pounds of copper, 4.21 million ounces of gold, 25.1 million ounces of silver and 214.92 million pounds of molybdenum.Southern Arc Minerals (TSXV:SA) agreed to sell its 90-percent share in the Taliwang gold, silver and copper project in Indonesia to Coke Resources in return for $500,000 and 15 million shares in Coke. The transaction is contingent on Coke completing an initial public offering on the Australian Stock Exchange. Coke expects to issue up to 21 million shares at AU$0.20 per share. Southern Arc will own about 8 percent of the company.
Copper Gains As Industrial China Grows And US Budget Talks Remain In Focus
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