Re: Teck back in or not !
in response to
by
posted on
Jul 24, 2012 08:45AM
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%)
''
Teck is quite unlikely to play a middle man for selling SC, even if it appears it could be profitable. If they want it, they want it. If they don't, they'll offer their 75% to CUU for 2-3X the option back in value (say $600-900M).''
Ok but what if we just say ... NO ... we will get our 75% back anyway.. otherwise TECK will have to play the middle man , which you said was unlikely... I dont see that scenario unfolding... also this would mean they would sell their 75% to a competitor at a bargain price ?? very unlikely to me... I believe TCK will either back in our buy the whole thing, and then maybe JV at their conditions... glta