Re: 4 year clause?

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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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stockfriend

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Re: 4 year clause?

posted on Mar 13, 2012 08:04PM

Dear Hydrocarbon:

I completely agree with your post. By backing in 75% of Schaft Creek, Teck really put themselves under the strictest timelines to bring the mine to fruition within 4 years. Your point about the 2012 construction season is well taken. Teck cannot waste until the end of July to decide at what level they will back in. Moreover, it is easy to have unforeseen delays with a project of this size during the four year period. I think it will be much much easier for them to buy us out now and get us out of the way.