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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%)

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Message: Re: Zzzzzzzzzz
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Jan 04, 2012 06:13PM

lletea:

2) to get rid of the conditions in the back-in agreement to earn the 75%, spend 4X expenditures, arrange financing for CUU and build the mine in four years; TECK does not need this pressure

This is the best point that I have heard in the last few weeks. I never thought about this, if they buy us out 100% they can start building the mine whenever they want. That is definitely the better option for them, and of course for us as well.

Good thinking lletea and thanks for posting those LII in the morning.

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Jan 04, 2012 09:40PM
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