Re: Let's state the obvious......
posted on
Nov 20, 2011 09:41PM
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%)
Chowdah, your are kinda right.
What makes copper fox so valuble in my mind is the high grade copper that we have in the ground.
Long time ago, Elmer tld Teck CUU`s intentions . We will take this to the feasability. From that moment, Elmer has walked hand and hand with Teck threw this process. After all, all the numbers being pluged into this is nimbers that Teck is supplying.
Teck needs to assure themselves that the copper is high grade. The reason why......once the copper is mined. Whoever buys it from us....I assume ( China ) it will cost that much less to smelt it to get it to a finished product. So .....When they build the mine, it will be like the army ( double time) no matter what the cost, because the quicker payback and the less expencive to get high grade copper. So it will be cheaper to smelt copper form CUU.
Their are copper plays right now that you are saying are down more that cuu and they are in production. Well that is true, but they are low grade copper.....costs much more to get the finished product.
Keep in mind. this mine is long term.....60 years plus.....and possibly longer we have more drill cores comming in....once we see that they are high grade too, well this company will be the gem of B.C. Canada.
We will have company`s bidding on us, just to get the high grade copper. Others say Teck might not do it....I look at it as well know soon enough. Once Teck is handed the BFS, they have no choice. They MUST give us a decision with-in 120 days.
Now im saying a 10 to 15 dollar range but that can change, once these drill results come back better than the ones before and find that thier are 2 to 3 more shaft creeks with the same or higher copper grades......well. Lets just say Elmer wont need to phone no one, HIS phone will be ringing off the wall.
Just mu opinion.