Re: Teck back in or not !
in response to
by
posted on
Jul 24, 2012 12:36PM
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 that the lands outside of the named zones won't be much of boost to the buyout equation unless CUU convincingly demonstrates something is there with the Mira product.
I agree that the extra lands outside outside the original agreement are a wild card, but aren't worth very much until we get something from Mira and/or drilling. Elmer has said a few times that there have been 100% correlations between the magnetics and drilling. Teck will want some evidence/proof of this, especially if we try to make the argument that Discovery and Mike have decent mineralization from a few 2012 drill holes. It appears that this might be Elmer's and co.'s strategy. Show how the Mira's correlate to Liard/Paramount drilling, and how they match up to a few holes in Discovery and Mike (then we might be a little something for ES and GK ... I still don't think it will be as much as some would hope until there are drill holes in these zones).
The economics of the BFS are going to tell the tale for us imo. It will be economical or it won't. How economical, will set some rough parameters to negotiate/make an offer in.