The old RE says 7.6 billion lbs of copper even at $3 a pound =23 billion dollars -at negative production cost =28 billion dollars in black and white. without silver or the new drills or the new land or the new copper price.Thats the rock bottom low value here .
Who on earth would sell 25% of that for under a billion dollars (or 2.20 a share) no way.
- The Measured and Indicated mineral resource for the Schaft Creek deposit (at a 0.20% copper equivalent cut-off) total 1.01 billion tonnes grading 0.27% copper, 0.017% molybdenum and 0.18g/t gold (copper equivalent 0.46%) containing 6.1 billion pounds copper, 383 million pounds molybdenum and 5.8 million ounces gold,
- The Inferred mineral resource for the Schaft Creek deposit (at a 0.20% copper equivalent cut-off) total 283.6 million tonnes grading 0.24% copper, 0.011% molybdenum and 0.15 g/t gold (copper equivalent 0.39%) containing 1.5 billion pounds copper, 69 million pounds molybdenum and 1.3 million ounces gold,
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The silver grade of the Schaft Creek deposit is estimated to range between 1 and 2 g/t. The silver content of the deposit has not been included in the resource estimate due to legacy data issues as previously disclosed.
