Re: Teck back in or not !
in response to
by
posted on
Jul 25, 2012 10:00AM
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 did recently speak with Elmer regarding Teck paying $3.80, he laughed hard at that. Said ''do you honestly think Teck values us at 1.5 Billion''
Two years ago I was at the Vancouver convention and meet Micheal and Elmer at the CUU booth. I had about a half hour conversation with them and at the time asked them what they thought our property was worth. They, of course wouldn't answer that question directly so I threw out some figures randomly in a joking manner. When I came to the figure of $3/sh I phrased my question as would you accept anything less than $3/sh? One of them smiled, ( I think it was Mike but can't recall exactly ) and shook his head. This was before the new drilling on the Paramout zone and Titans. So yes, imho, I think Elmer's laugh means that 1.5B for our property would be riduculously low.
Honestly, CUU has one of the largest multi-mineral poryphery deposits in the world. A clean deposit, with no environmental issues, good relations with 1st nations peoples with an excellant shipping location closest to Asia and China and located in Canada, one of the safest political areas of the world. Not to mention will produce Cu at a negative cost. Are we going to give this away for just 1.5B? I would laugh at that too. Just look at what the insiders have been paying to acquire these shares. DM picking up shares all the way up to $2.60/sh. So when someone comes along and says we are only worth $2/sh I am shaking my head and rolling on the floor laughing.