Re: What will you do with your profits?
posted on
Jan 07, 2012 04:32PM
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%)
IMO, if the BFS is as good as we expect it to be, then there is no more uncertainty of the earn-back percentage; 75% back-in by TECK is all but guaranteed. If TECK does not act right after BFS is out, then CUU could entertain offers for their 25% and have the new buyer wait for TECK to annouce their back-in. If TECK, by some sort of miracle, decided to back-in for less than 75% then that it'll be a nice bonus for who ever acts fast and buys out CUU.
True...it wouldn't be much of a suspense if the Feasibility was good and anyway it could be assumed they will back in for 75%. It seems to have people confused now though so maybe it would give Teck some sort of an edge.
Who knows? Personally I am going to be mildly surprised if the Feasibility is released by early February instead of being held off to incorporate the new drill results.