Re: Indirect Holding is the key
in response to
by
posted on
Mar 23, 2012 09:56PM
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%)
I can give you plenty of secondary reasons why Teck would not want the Feasibility out: Attracting competitors, Forced back in , Start spending expenditure money on day 1, Must spend every expenditure penny before earning it's ineterest, Must bring mine in production under 4 years
I am sorry Vette but I don’t agree with this. You make it sound like they don’t want us at all. Of course Teck will have to spend some money to build the mine and according to your chart they better start building and producing some copper ASAP before somebody else steals the business. They know it will cost them some money to get this thing and they have the money ready for it. If they want to put together a buy-out plan then 120 days (4 months) is more than enough time to decide. If they want and need this mine, none of the reasons for delays you posted here are true.
Attracting competitors - if they want us 100 % they will have the first shot, so no worries about competition if they offer market price. If Teck wants only 75% then it doesn't matter who is taking the other 25%
Forced back - if 120 days is not enough then how much time woud they need? Two years? Don't worry, they already know what they are going to do.
Must bring mine in production in under 4 years - this is also not true, Elmer personally told me that 4 years time could be extended.