Re: Buyout / Webgogs - Vette, General Ledger /Pat66
posted on
Jun 05, 2012 05:12PM
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%)
Agreed, my understanding from previous discussion with Elmer is that any sort of CUU 2.0 is just a continuation of the same company. Kind of like upgrading software to the latest version of the same program - still the same program just the latest version.
Kind of sounded to me like Elmer wants to poke 3-4 holes in each target and then sell the whole thing ... there seems to be a fair bit to be negotiated yet on the inclusion lands still, unless this is already well underway and Elmer gave us the party line on negotiation status. When asked by the caller after Maxwelg2 if Teck could back in for the original properties only, Elmer answered, "likely no."
Hmm ... I'm really divided now on whether we'll see CUU 2.0, hard call to make as the geo wants to explore more but the investor says take the money ... I guess if the offer is big enough for the extra lands, CUU might just cease to exist by the end of 2012.