Miami — A few months back, officials with Bell Copper Corporation of Canada said they changed their mind and were not going ahead with the idea of possibly developing an underground copper mine below the Town of Miami using insitu leaching (pumping sulfuric acid underground and repumping to the surface). In fact, it was on July 9 of this year, that Bell Copper officially said it had signed a purchase agreement with Copper Fox Metals Inc, also based in Canada, where Bell had agreed to sell the Van Dyke 1,100 acres of lands and mineral rights in, around and under the town of Miami, in Gila County, and Sombrero Butte assets in Pinal County. The deal called for Copper Fox being able to acquire 100 percent of the properties by paying Bell Copper $2,000,000 in cash and assuming Bell Copper’s continuing obligations in respect to earlier agreements with the original property owners.
This past week, Copper Fox Metals outlined to stockholders how it was raising monies to pay for increased general operational costs and future projects. The people at Copper Fox said they just closed on $4,025,000 financing by an Insider and imitated a $4 million private placement offer.
Regarding the Van Dyke properties here in Miami, Copper Fox also revealed last week the closing of all Bureau of Land Management lode mining claims (the Van Dyke BLM claims) that Bell Copper acquired which are adjacent to Bell Copper’s interests in the Van Dyke copper deposit located in Miami.For the complete article see the 09-26-2012 issue.
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