Re: Freshening up the cuu pages
in response to
by
posted on
Sep 04, 2012 01:25AM
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%)
Interesting exchange between Canadastocksguy and Prospekt.
I would side with Canadastocksguy on this one. I think the preponderance of evidence points to a deal in the offing with Teck.
If CUU is shutting down the camp and stopping its drilling while management is supposedly uncertain about Teck's intentions, then the alleged rationale of saving money and preventing further dilution does not cut it with me.
Why would CUU have spent $2 million in July to acquire Bell Copper's Sombrero Butte property in Arizona if avoiding expenditures was a top priority?
It's because other projects are becoming necessary since Schaft Creek is soon going to be in the hands of a Canadian major with Chinese backing, IMO.