Re: Both Sides of the Picture
in response to
by
posted on
Feb 11, 2012 11:46PM
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%)
What if Teck backs in for 75% and then elects to shelve this project for a couple years? What happens with our share price then? Its not impossible another producer would still pay for our chunk of this property and be glad they have a 25% interest when it goes into production, but they might also turn their attention elsewhere looking for acquisitions that can be in production by 2017
If teck backs in for 75% as you say...they can't shelve the project, it must be in production under 4 years... I've asked about this and the answer I received was that Teck must start building the mine the day they back in in order to spend the expenditures in time to not lose their 75%.
With The Feasibility out this month, Schaft Creek will be a producing mine by 2016...(even better for your producers looking for 2017 lol) Unless Teck takes us out. Then they can take all the time they want.
And if you doubt this 4 year clause call management, many here already have received confirmation.