The next NR...
posted on
Mar 27, 2012 02:36PM
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%)
This one should be interesting. It's good to see the company scooping up land that might bear fruit down the road before it gets expensive. We don't want any intrusive claims on our turf. The Mess Creek land makes me happy because I still think there's value there. We can spinco that and have something to work where we're pretty sure to find value. I might be usefull as a mine site of it's own.
The valley lands have prospecting value and the smaller valley could be used to store rock. It looks close enough. The price paid is good. We can be happy about that. I'd like to see us go a little more to the south west. I think we'll find a big deposit there. When we get ip and titan data over there we'll know for sure.
But now I want to know what's been behind the lenghty black out. I'd like to hear that we made another major milestone. Aside from Liard shares which are always good, what about money? We're stuck drilling this year so what about commiting to a big plan as a final parting shot?
To the board:
We want Elmer to have more control over the purse strings. I have enough people asking why we dribble the money in. This is the collective sentiment...
It's more appropriate that PP's go to the public as EE has an overly concentrated position. My a group wants 20 million to conclude the program. 30 million as a final dillution would be better but any where in between would be fine. (One of the more tuned in guys said 38 million exactly). No more 2 million at a time. Also, do something about the share price. Keep us more informed. We are going into the dull drums and April may be a bust. We don't want to see 78 cents and a give away PP. If this cost a few hundred thousand, so be it. Add some coverage. Shorten the drill time by getting 8 drill on site. See to it that all the assays are in before the year ends.
Set aside money to clear out any adjacent claims and work hard on getting them at fair value. Keep us more informed of permit progress. We hear that permiting it to be accelerated in BC. Tell us what you know and expect. Where are we at with roads and power? What hurdles remain there? Can we have a more realistic timeline for the RE and FS? Do we have a fall back plan in the event that Teck drags its feet? We have not heard anything about money in the event that we have to raise our share of the capital where Teck takes a lesser role. At the AGM there was discussion about this but no resolution from management. This subject should have been brought up then and been officially addressed for the minutes. Can we have an update in this matter? Can we have an outline of the activities that lead to the conclusion of this project for this year?