Re: Questions that need answers
in response to
by
posted on
Apr 01, 2012 04:53PM
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%)
According to the agreement, CUU has to seek Teck approval for major engineering firms, contractors and consultants to be used on the property. Furthermore Teck are entitled to access to all records prepared by CUU in connection with work done on the property.
I don't see anywhere that Teck has to approve news releases or the feasibility, etc. CUU has to work in compliance with all laws, rules, orders and regulations and in a manner consistent with good exploration, engineering and mining practices. If they do all that, then there is no reason to edit truthful information that has to be revealed to the public when they have it.
I agree that the engineering firm producing the feasibility should not need Teck's supervision. If you mean Jim Gray, I believe he's a CUU person that they have used for many years. The only thing Teck supervises in any sense, is the work program. On that they are entitled to review and comment.
After Teck makes their decision regarding earn-back, the rules above reverse and Teck has to report to CUU, and seek CUU approval for contractors, etc.