Re: Perfect Storm about the BFS
in response to
by
posted on
Jan 15, 2012 03:22AM
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%)
We can agree to disagree.
Until Teck is forced to get off the pot, the SP will languish because the market perception is that Teck is already calling the shots.
The requisite positive BFS will force the market to look at the parameters of the back-in agreement.
BY simply certifying that based on already 43-101 defined reseves, the mine will be profitable, at whatever cost, and by the way, we know that what has been certified is simply scratching the surface, the objective of the BFS is complete, and the ultimate value isn't even on the screen.
And they can claim whatever they want about who is negotiating, but I'm pretty sure that whoever owns in the neighborhood of 60% of the shares will be the closer.
Any surrogate negotiating for CUU will not be subject to binding arbitration, in this lifetime.