Re: Teck back in or not !
in response to
by
posted on
Jul 24, 2012 12:22PM
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%)
We have a contract to do and nothing more. Take out all the Teck expenses and look at what we've spent on support costs and dillution. This might make some people unhappy but the big payday will come after one more round of incentives and a years costs. The slow pace did/does eat into the profits. All the other stuff we are doing that's not Teck applicables is to justify the extra expenses and to make up for them while paying for the next project. There's folks who think cuu should be sold and not continued so as to max out the profits. We've discussed the value of the name. Most of us agreed it should continue. The company took this cue from us and the other shareholders.