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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: BFS or Buyout

Feb 25, 2012 11:18AM
1
Feb 25, 2012 11:41AM

Well...we know the BFS is imminent but are there enough dots to connect to suggest we're heading directly to a buyout?

Well all I know is that when Feasibility comes out...it not only starts the 120 day sclock but more importantly...teh VOTING shares are transfered to CUU.

Will Teck let that happen ? Because once we have the voting shares CUU is in control of Schaft Creek for years....even if Teck backs in for 75% they must 1st spend all the expenditure money and earn their complete 75% to get any decision power.

And they must do that under 4 years or they lose it all.

That's a lot of pressure....

(I've always suspected Teck of trying to delay the Feasibility as long as possible so they have time to find a partner or get their ducks in a row....)

No more time Teck.

3
Feb 25, 2012 02:52PM
5
Feb 25, 2012 03:34PM
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