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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: News on Elmer's BXX!

Jan 12, 2012 08:21AM
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Jan 12, 2012 09:13PM

It's not really 25% of the value that we are left with if Teck chooses to earn-back up to 75%, is it? That's just for the Schaft Creek properties that are covered by the agreement. It doesn't include the properties outside the agreement or the value of them having to earn-back by putting money towards building the mine (worth at least 71 million to us), or the Liard shares that we own outside of the contract (worth about 1.47% of the value of Liard's NPI and aside from the 78% that we will earn upon release of the Feasibility to Teck.) When we calculate the share price value it should always be a bit higher than 25% of the whole project.

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