Re: China on the move for moly and copper
posted on
Dec 29, 2011 01:25PM
I honestly don't believe that these short term moves by China have any effect on the buyout price we will receive, nor do I believe that daily or even monthly movements in copper prices, silver prices or gold prices have any effect.
I do believe that the last 3 year average of metal prices along with Teck's internal future projections of demand will or already have determined what they are willing to pay. I also believe that we will receive full credit for all drilling that has occured in 2011, despite the fact that the information will not be included in the feasability study.
Actually, I think that the only thing that is going on now are the final internal estimates along with negotiations. Almost certainly, the reults of the feasability study are known, at least with accuracy of + or - 5%.
Rip