posted on
Dec 03, 2011 01:40PM
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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%)
Message: Re: BFS
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Wow !! lol. Why does this all seem complicated when it's all so simple.
1) The block model for the higher grade starter pit and payback is already complete. Elmer already took care of that with the most recent Resource Estimate.
2) The BFS is due between now and end of January. Many different contractors working on this. Unfortunately the timing sucks because of Christmas and the New Year.
(I see January as a positive for TFSA, New budget, Taxes, visibility and exposure)
3) The BFS only triggers Teck option to back in (not the buyout) and they have 120 days. That is plenty of time to get all the cores in.
4) Note that all the 2011 drilling assays will not be in this current Feasibility study. The Feasibility (once received) can be updated in about 3-4 days by simply plugging the numbers in the block model. Updating the RE.
5) Even if a buy out offer did come early, things like that take 3-4 months. Again enough time to get all the data in. Insiders will make the final decision.
6) The Teck engineers and geos are pros, they understand (better than we do) what Schaft Creek is.
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