Re: Quadra FNX takeover
in response to
by
posted on
Dec 06, 2011 01:20PM
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%)
That's fine, if TECK doesn't make a buyout offer that's acceptable, they'll probably still back-in. If Ernesto doesn't get his value, then TECK just complicates it for themselves by having to earn back their 75% (or whatever they take) or by having to deal with another partner (and still have to earn it from them).
Either we take this to production, or our portion is sold to another suitor. It may be a buyers market overall, but there's plenty of reason to think we're the exception, not the rule.