Re: Another Theory.
posted on
Jul 11, 2012 10:00AM
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
Obviously Elmer is looking at the next chapter for CUU
For my part, I cannot see this acquisition as being at all similar in potential to the Golden Triangle venture that I invested in
Not going to try and convince myself that this move, because of Elmer or whatever, merits anywhere near the intertest of the Schaft Creek property
For all its illustrious mining history, Arizona simply does not have the appeal at this time
Have been in more or less similar plays before
If you think the market is flighty with the string of positives associated with Schaft Creek, pretty sure there will be a barrage of negatives tied to these new properties
You can have a literal mountain of ore, but without a clear and economic path to extraction, you aren't going anywhere
Really can't see myself hitching to this wagon going forward