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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%)

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Message: Re: What happens after the deal is done?
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Feb 22, 2012 05:40PM

I couldn't have said it better myself, and I agree with you completely on your estimation of the buyout price. As I've said before, I hope I'm proven wrong. That is, I'd be more than happy to say, "I missed the mark, I predicted $5-7/share and never thought it would be $10." That's a mistake I'd love to make, but I'm a realist, and I think most people will walk away happy, regardless of whether you've recently bought in or have held it a long time.

As you've pointed out, 300-500% is a pretty good return - that's the range I suspect I'll be in - some longs (vette, webgogs, mudguy, golfyeti, prospekt and others) who had the foresight to get in early will do even better. In any case, as ldubs pointed out in his metaphor the other day, we're now at the landing part a transatlantic flight. In a few weeks I suspect we'll all be grinning ear to ear.

On a separate, but related note, look below. I know I've posted similar charts on several occassions, but with these trends in copper supply, how can it go anywher but up? The trend is pretty obvious - supply is drying up, demand isn't going away. And how can that be anything but good for us?

http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_1year

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Feb 22, 2012 09:29PM
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