Re: Question about Andean Takeover
in response to
by
posted on
May 30, 2012 08:44AM
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%)
Andean Resources was one of the highest grade large gold deposits left on earth. Red Lake in Ontario is comparable but already developed. Pretium is also comparable and is currently undeveloped. The high grade is what resulted in the huge purchase price.