Re: Freshening up the cuu pages
in response to
by
posted on
Sep 03, 2012 04:50PM
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 discussed that claims purchase with Roulston when it happened and he said it was very interesting and indicative of a strong long-term interest by Teck in the area. So, I will take his informed opinion on the claims being significant.
In terms of the funding, I know they can get the money easily enough, I just think they've done some sort of cost/benefit analysis and decided against going for further funding at this time. Having decided against the further funding they are then going to conserve what capital they have on hand and it makes sense to close the camp at this time, to me, since the results likely won't be available soon enough to factor into the Teck decision.