Re: BFS Timing
in response to
by
posted on
Jun 09, 2012 12:44PM
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%)
The company said two drills for this spring. Really, just 2. We are supposed to accept that drilling up a district requires 2 drills only. Hmmmm, the aerials cover the ground at a huge rate. Within 2 months we will probably have 20 targets. Elmer will ground work those asap if not already started. Then we could use 10 drills. The 2 drill theory sounds like mini PP's for another year and I don't buy that. We will be occupied with aerials all right and the buy out or back in. We are bankrolling operations with debt because everyone knows we're good for it. Add that one to the buy out hint list. Is EE going to exercise out of the money? Probably. Is that enough money ? Noooo. Not even close. So mister prepaid expense has switched to debt finance? Yup. And my prediction that double would be required... Yup. And probably more now because we got more land than I expected Teck would allow us to buy. Sure those are on option but we have to spend to keep those options alive. (Air studies etc). There's a couple of other logic arguements to be made that are hard to deny and this is why our sp is such a joke.