Re: News release offering 2.2 million. Ee backing it up
in response to
by
posted on
Jan 18, 2012 04:48PM
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%)
When I spoke to Elmer he said the operations burn rate was minimal and they had enough more for that. The BFS was a prepaid expense. That leaves us with land buy and or NSRs. The other possibility is to put a rush on items.
News should come tomorrow with Friday being a good day to update us on the company activities. This should be followed by a Monday NR. Then we wait for the next round of assays and they should come in the first week of Feb. After that we should get the BFS or Mine plan update. I expect another PP for 4 million.