Re: Sooner than later
in response to
by
posted on
Jun 07, 2012 09:13PM
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%)
I agree that we won't ever see the feasibility. However I don't think that Teck will make a move until they see some firm economic numbers.
After listening to the call, it sounds like the economic numbers are not quite ready yet. For example, Elmer dodged the question about the mine plan being complete. His answer was something like "the feasibility is still on time". Elmer also spoke about the Paramount zone being a "possible" starter pit. If they have not finalized the starter pits I doubt they have firm economics on the project available. I still think the feasibility is on time, but it's probably going to be another month or so before some economic numbers begin to attract Teck.