Today on AG...Tomorrow on AG
posted on
Mar 16, 2012 05:43PM
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%)
Vettes gone....but Ive got a feeling he'll be back.
Ill be completely honest here....I was getting fairly tired of posting on this board and I had alluded in the recent month or so that this board was clearly overstating the positive, even skewing facts towards the positive.
1) For all the hype.....no one can produce an actual document pertaining to a 4 year clause. Sure theres that email from Jason or Shane (sorry cant remember which) but it appears nowhere in the contract. Remember, as Elmer said, "you could shoot a cannon ball through it". To be honest I think if anyone knows the true nature of the contract in its entirety it would be the guys who negotiated on it from Teck, as Guillermo Salazar sadly is no longer with us.
2) We currently do not own ANY of Schaft Creek...we have a working interest....they might outwardly look like the same thing but they are not. Ownership means you own. Working interest means you call the shots until such time as the working interest has run its course and then ownership reverts back. Best case scenario is Teck walks away and THEN and only then will we have a 100% ownership. Although I do feel it is safe to say we have 25% ownership at this time.
3) BFS has been delayed for 9 months now, and honestly, I wouldnt be surprised if there was another delay. Schaft Creek is one hell of a deposit, with one hell of a lot of historical data and current drill holes. I can assure you they need to go over every deposit with a fine tooth comb to ensure materiality, Schaft creek is no different....its just MUCH larger and this correlates ot a lot more time to ensure the I's are dotted and the T's are crossed. Yet how many posts have we seen about people calling the office and they have stated "For sure itll be out Q1!"..."Itll be ready by PDAC!". Management really does need to be vague in their responses about these kind of questions...answers such as the above make me have a hard time believing the transcribing was accurate.
4)This board is about CUU. Not about the culture that has obviously started to surround it. Ive often said that if you dont like someones opinion you should ignore it. Instead this board has turned into somewhat of a witch hunt with anyone spewing "negative" information a basher, or a soft basher or whatever you like. Theres probably been some posters banned who didnt intend to bash it, or maybe just were getting into stocks and expressed a feeling which unfortunately they couldnt support with technical data due to their knowledge levels. Point being the culture at AG seems to require assimilation without any questions and if you differ from this you. Unfortunately today we also saw how bad it had become when we had a moderator threatening a good poster (storacle) because he didnt like his opinion and there is no other way to view this. Also from all the stuff Ive seen about multiple aliases meaning trouble and "IC"...well....irony is irony.
The first 3 are items that unfortunately have been misrepresented in one way or form, I can assure you of this. I have posted multiple times about the contract and been told "that cant happen"..."thats fictitious"..."You're clearly wrong..".....however I have a good friend whos a veritable expert on securities law who seems to agree with me.
The 4th is a slightly different animal;
We all want CUU to do well, we all want to make a bunch of money and we all want a to be a part of this amazing story.
Psychologically....people believe what they like....and unfortunately we all like CUU...A LOT. People without much experience in the stock market have made an excellent decision, however without the rationale to actively debunk some of the stuff posted here, and with constant pumping and misrepresentation of some facts, we unleashed a beast.
I will state clearly that NO ONE is to blame for the way this board seems to have gone, it was the byproduct of many opinions and over hyping of facts. Ive talked with a lot of groups about CUU and I can assure you the mentality on this board is unique. However the other groups do agree with a lot of the points on this one...most specifically the buyout and the certainty of it. Im not going to start a debate but Im writing this post as an effort to try and realign the board with both fact and respect. There are A LOT of good posters here....and sometimes insignificant facts blow up into significant ones and vice versa. The important thing to any investor or group thereof ought to be the mutual respect of opinions, and the careful weighing of what everyone has to say. If you dont like someones opinion, theres no need to post. If you have a valid concern, post it respectfully.
This board in a lot of instances clearly has forgotten these pillars of sharing knowledge in favor of labelling people 'bashers', choosing to ignore true facts for the ones the prefer that have been misrepresented and in general....its clear theres a clique here as well as on SH.
I had my clashes with Vette, we didnt see eye to eye but I had respect for the man, he was informed, abreast of the situation and didnt mind sharing his knowledge. I called him out about ownership and I stick by choice because it was a misrepresented fact, and before you knew it I was getting the "IC" treatment. I forget who it was (Chappy I think or maybe it was orcinus...I believe it was between feb.11-Feb.17) but thank you for posting my first post from Stockhouse back on march 23rd in my defense. I love this stock, I love this story, however the legend created on this board is a bit big for its britches at times. I am in no way a basher, I just do not like misrepresented facts and unfortunately I feel very strongly that when someones money is on the line they deserve the raw facts with no spin. This is very clearly happening on this board and so I challenge what I believe to be misrepresentations.
Vette also probably knew he had a lot of people looking up to him for his posts, and while I cant state for sure...maybe he was stressed out about another possible upcoming delay in the BFS. At one point I remember him saying he had 2 million shares and I can see where the stress in that would start to show in these markets. Also while holding on to CUU theres been a lot of good plays out there people have missed while their money was tied up here.
Bad markets, lots of money, constant frustration, one sided viewing of subjects........I think the powderkeg didnt go off today...but merely showed it had been there all along.
If one is to be efficient as a judge one must first judge oneself by the same standards.
Vette, if you're reading this (and I sincerely hope you do), this last part is for you;
You are a knowledgeable poster, I respect your skills when it comes to stock picking.
You shared all this knowledge with people here, taking your time to explain things to rookie investors or people who just needed clarification.
Overall while we did have a clash or saw things the wrong way, we both saw the same endgame for CUU and this is the only thing that anyone on this board needs to agree upon, we just need to start doing it more respectfully of each other at times.
You were an asset to this board Vette and I do hope you come back, todays little blowout doesnt mean anything personal its just a matter of the stress and frustration that everyone involved with this company must feel. Dont mind me if I pissed you off man, I just like a good debate once in a while but it doesnt change the fact that we saw the same pot of gold at the end of the CUU rainbow. Were just all getting a little frustrated and its very easy to let anger take the place of judgement. I do hope to hear from you again.
Likewise from a lot of people, I can profoundly say you have made the biggest difference on this board to so many different people and Im certain they want you to come back.
Sorry for the long ass post fellas.....but I think it just needed to be summarized and hopefully this board can start moving forward again without all the nitpicking and beefs that seemingly arise out of nowhere.
"I may not agree with what you say but I will defend to the death your right to say it"
-Voltaire
Rogue,