Re: Out of left field
in response to
by
posted on
Jul 09, 2012 08:23PM
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%)
They were in a tough spot and we definitely used that to our advantage. However, if another buyer offered $3M then the properties would have gone to them. Clearly $2M is the current market value of the property. With some exploration work that value will certainly increase.