Re: Pressure
in response to
by
posted on
Aug 26, 2012 01:31PM
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%)
Including the BMO assessment of -$.04 cost for copper on the corporate presentation seems to indicate that Elmer agreed, more or less, with that detail. So I am assuming that the feasibility will be good for that.
I'm still on the fence about the drilling, because it could have proved disappointing and that's why they closed down for this year. Although, I have to say, all good exploration companies come out with a dud hole once in awhile and if they don't it might be time to question their results.
Mira is probably good enough, else why proceed with those costs? It must have been fairly evident once the preliminary results came in that the district was shaping up.
More thoughts on the Mike quote: he referenced the Antamina deal whereby Teck was left with 22.5% and was the operator. It seems to indicate that Teck values the role of operator, and there's only one way to become operator of our project and that is a complete buyout.