Re: Jim Gray--Galore Creek
in response to
by
posted on
Sep 23, 2012 11:52AM
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%)
....we are talking billions of dollars here, Teck will be looking at everything very very closly, they owe it to their shareholders.
Every 1% of Schaft Creek and surrounding areas is worth Billions for years to come. If they take anything less than 75% , they're loosing multi billions. (considering what they're paying for it, in reality CUU's portion 1x expenditure = 80million)
Lose multi multi Billions for 80 million ???? NO.
Even worst, not taking out the remaining % (CUU & our 4 year clause) is risking losing it all, the whole 75%. Again multi billions.
So yes, Teck owes it to their shareholders to not play stupid.
Pay the 2.5+ Billion for CUU and secure 100% for 100 years to come, with the possibility of selling it in blocks and keeping operatorship.
This, with no risk of losing it, no 4 year clause up their %?& and no risk of CUU transfering the same agreement to a bigger fish who won't be so cooperative with Teck and that could have the time and power (voting shares) to enforce the clause, making Teck lose it all and come out with ZERO.