Re: Teck back in or not !
in response to
by
posted on
Jul 24, 2012 12:10PM
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%)
Copper Fox is still somewhat constrained in how and what they can spend their cash on
They have no income
They did stake a lot of ground that, I assume, Elmer felt is highly prospective and based on the remore sensing data
Given that these companies have very different business models, I can see how a mining operation might want to be able to expand wherever the geology might lead once it is churning the area, and have the income to afford that strategy
An explorer would not have the luxury of expending capital funds to nail down everything but would be prudent to stake contiguous areas that are highly prospective
Which is I think what happened