Some interesting info in this announcement from the horses mouth with respect to the Copper exploration project:
- Not expected to generate revenue in the immediate future
- Exploration expected to take several years and cost $25m
- Will be funded by CR and further dilution (what a surprise)
- Seabank would become another major shareholder (with further dilution of course)
- There is limited exploration history
- Won't hold title over the project (could be disastrous in the event of a falling out with JV partners)
- Expect to incur losses on the project until such time as it can successfully generate revenue (which is not in the immediate future)
Interestingly, I can recall most of these things being mentioned on here before and scoffed at but certain posters...
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- Ann: Notice of Annual General Meeting/Proxy Form
Ann: Notice of Annual General Meeting/Proxy Form, page-2
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