Re: Perfect Storm about the BFS
in response to
by
posted on
Jan 15, 2012 02:36AM
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%)
I have to disagree. I think the Feasibility is more important than just a signal that the clock has started with Teck.
It is important to see what the costs are to build and run the mine.
Teck may not want to buy us out 100% and then we'll need the Feasibility to sell the rest. Granted, if Teck backs in for any amount that should make the job easier.
It's not really Teck and Ernesto running the negotiations. There is going to be a third party negotiating on behalf of the shareholders of Copper Fox. Ernesto's vote will trump anyone else's but the negotiations are indepedent.