Re: Are we going to switch?
in response to
by
posted on
Oct 23, 2011 12:49PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
We are steadily heading towards a mine. The closer we get to it the greater the value. We filed our notice to raise big cash to form the JV whatever Teck opts for. We have the space reserved and are paying for the construction now. The BFS is coming sooner so the delaying must have come to an end. That means the next important NR is the mine plan and it should come soon. The cores will come at a rapid pace as the year begins to wrap up. Teck has completed it's budget and will have that online on the 27th. This could contain hints. We had meetings with the Liberals who want to fast track some mines and put together a budget for infastructure. Christy is going to Alberta on bended knee to genuflect in the presence of money. We have more private meetings set with them. All the cloak and dagger is to provide them with info so they can try cushion the employment shock that's coming. Wanna see realestate boom... These are the things you do if you are going to mine. Our permit are just a formality. The gov't has the assurances that our enviro statements are true. That's important to them. They can't risk another Prosperity.
On this front, we have done all the C&D required. They will come out and support us and the media along with the enviro groups will have little to say. We will wait for the time to run out and the permits will appear like clock work. No one out there seems to know that this is the greatest hurdle a mine faces in its final stages. Cement will be poured next year. I would not be surprised to find that Elmer has a short list of contractors in mind already. But watch for a call for bids to come soon. Elmer likes to prebook his expences and will pay a little premium if it means a guarrantee that works will be done.
Elmer's a creature of habit. He will do as he's always done. We can expect continued prudence and each mining step will be taken with absolute dilligence. All the delays we have faced are a direct result of the agreement with Teck. While honoring those terms we have tripled the size of the deposit. We should get the holes as I described on SH. I don't see any reason to deviate. All will have noticed that we go to shows empty handed. That's not just the luck of the draw. I expect that the only thing that will come with fan fare is the BFS.
Next week holds a lot of goodies that should drive up the price. One being the Teck conference and some other investment groups who are likely to buy. This should work well if cores come in along with another NR about the advancements.
See you all Monday