Re: CUU may be reviewing the BFS?
in response to
by
posted on
Dec 03, 2011 10:28AM
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%)
Hi Dogger
My (limited..) understanding is that the BFS triggers the back in which means the right to earn the 75% from CUU. This involves paying 4 times expenditure etc etc. The drill samples are irrelevant for this bit ?? If Teck want to buy out CUU then the samples are important for valuing the assets but this can happen later.I may be a bit naive on what is going on but surely we have to accept that both CUU and Teck know what they are doing.
jmho bbay