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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%)

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Message: Re: Tecks position
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Jul 15, 2012 08:36PM
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Jul 15, 2012 08:58PM

Jul 15, 2012 09:51PM
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Jul 15, 2012 11:11PM
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MES
Jul 15, 2012 11:23PM

foxfan,

Although I would really like a "liquidity event," if they can't get a reasonable price I also wouldn't mind holding on to the 25%. But Teck has to provide financing if they back in for 75%, so what would they do to get the other 15% from us? If we just let them finance, then pay back from the copper when the mine starts, then after 4 years of building, and maybe another 4 years of paying off, we just collect 25% of the profits. OK, maybe they negotiate more time for building, but we should get something for that, not give them something.

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Jul 16, 2012 12:25AM
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Jul 16, 2012 12:07PM
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