I can't say how good it has been to get in some serious beach time recently and take a little break from the board. Stopped checking the SP daily too - I believe the value is there with CUU but I'm a little extended on this one so it ends up consuming too much space in my head when I'm checking in all day.
Most companies I am looking at are having delays of one sort or the other. Look at CCY, their PFS is late, with no timeline stated for when it will be released - I was really hoping to catch a pop early August because it was supposed to have been out late July. Notice the change of personnel at the engineering co. too, which throws a wrench into things. http://tmx.quotemedia.com/article.php?newsid=53465315&qm_symbol=CCY
With CUU, I've just started to adjust my time frame. This is a really big project btw - probably $4B capex. The kind of project provincial and federal governments are up to speed on it's so big. The BFS might not be thousands of pages but all the supporting docs and environmentals and years of correspondence between parties will equal tens of thousands of pages for the project doc records.
So I think this BFS is taking quite a while to produce because there is a lot to it. Sure, there has been bad communication about the delays and they haven't been handled well. But I tend to think they are doing up the BFS very well - my basis for this is the RE 2012. I didn't get up to speed on all the technicals of it, but read most of it in detail, and looked through every page. Looked very high caliber to me with far more detail when compared to other companies.
Would also be very surprised if some sorts of preliminary negotations had not started, as others have mentioned. Could be wrong, but the long blackout is suspicious.
Back to vacation mode for me, good drinks with friends on the deck, and a little more time away from the TSX Venture and the board - I think I've developed a CUU co-dependency of sorts, which is not entirely healthy!! lol. Looking for some drill holes or Mira by the end of August, and BFS around Sept. 17th.
Cheers in the waiting. The value is there, and the SP will likely look a lot nicer a month from now.
GLTA
