Re: Not drilling for Teck.
in response to
by
posted on
Sep 10, 2012 01:40PM
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%)
80.8 in expenses as of June. No money into drilling.
We don't have any of the other info in hand. Why?
Teck has already seen it. It can't be with held from us unless it is with held to increase shareholder value. Elmer would have to satisfy the bare minimum by giving up 1 piece of it.
They are stating Sept for the BFS buying a little more time. Why?
It costs money to start and stop a camp. Why such a short shut down? That actually didn't save anything. Explanation?
Also, you can't tell me that 4 holes was anywhere near enough on our new lands to do anything other than confirm mineralization. Since the expenses did not expand to include drilling we are safe to assume Teck has decided what they want. We have an offer. I'll concede that Teck may have made another offer on our lands but the company has stated that it was most likely that several majors would join in. We don't seem to be thrilled about drilling. I conclude we are risking our own money and there's no 4 times expenses involved here. That means a third party.
Elmer was appointed to Liard for a reason.