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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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Message: Re: Route zone...
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Apr 24, 2012 02:32PM
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Apr 24, 2012 02:35PM

Apr 24, 2012 02:40PM

And I keep thinking that Ernesto, McDonald,Stifel and others want their cash out, and CIC wants in. I could see Teck and CIC teaming up to buy all of CUU including the lands that have to be offered, the claims that don't and especially Mess Creek. I see an argument for almost a 50/50 cash partnership between Teck and CIC, for a 70/30 share ownership of CUU because of Teck's existing 75% back-in rights on the Schaft Creek project. That would give CIC a 47% indirect control with its 17% Teck ownership, which would keep them under the foreign control of a "national asset" scenario, but ensure a long term supply of all the goodies. Everyone gets their cash out, because a sale of shares is the only way that Senor E can do it.

I think Teck will ask the current CUU team to stay on board for the next round of drilling discoveries over the next few years, and ensure that everyone has a chance to pick up some cheap shares through options while they do. I could also see such an offer being extended to some of the current Board members to continue on the Board and participate in CUU 2 as well. It has been a good team, and its always nice to have a strong financial backer like Senor E in a junior explorer's corner to avoid excessive dilution. I just can't see Teck not wanting to control the future of this entire area, especially when it has a partner like CIC. This area is the "Next Big One".

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