Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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%)

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Message: Re: CUU may be reviewing the BFS?
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Dec 02, 2011 11:46PM
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Dec 03, 2011 07:36AM
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Dec 03, 2011 09:27AM
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Dec 03, 2011 10:28AM

Dogger,

It's very well possible we have all the drill results and they're being incorporated into the BFS and all that information will become public once it comes out. Remember there hasn't been insider buying for a month or so.

Even if they don't have that, BFS only means that they trigger TECK's back-in time. Back-in is for the option, it's completely different than the buy-out, which may or may not happen from TECK. If TECK makes an offer, CUU can say no because they think that they're worth more, and by they I mean Ernesto since he really makes all the decisions since he has the most votes.

For the BFS, if there's going to be a different mine plan BECAUSE of the new drill results then if TECK buys us out, they can deal with that on their own timeline. Otherwise, you can just incorporate the numbers and "add on" to the existing mine (overly simplified). Point is - it doesn't matter.

Even if it's not in the BFS, CUU knows it's there, so does TECK. Same thing with the 2008 RE, it's not like the metals disappeared. Just because it's not in the BFS, it's not like it's not there and can't be used as a bargaining chip when selling.

If TECK takes the full 120 days, it's even possible (might not be, not sure) that we update the BFS with new drill results and agian if not, it's not like the drills results aren't known by both companies when discussing a buyout.

It's better to get the BFS out ASAP and force TECK to make a move, lest a bidding war is created or the Euro collapses.

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Dec 03, 2011 11:22AM
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