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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%)

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Message: Re: Outfoxed... Some history
4
Oct 06, 2012 11:49AM
5
Oct 06, 2012 07:37PM

Salazar somehow completely missed the big picture

Actually, he nailed and and chained Teck to the big picture

Problem for Salazar is that he had moved on before the realization of his initial strategy could bear fruit

It was indeed Elmer with Ernestos backing that filled in the details of the trap

But those protective clauses, designed to ward off the crushing tactics that could be employed by a major to starve an explorer, who happened to have discovered exactly what was discovered, are very much central to Tecks dilemma as we speak

Assuming these tactics work as designed, Teck is deciding whether or not they want to proceed in the face of a requirement to relenquish their interest in the Liard shares; form a mine joint venture, with CUU in control within 2 months, and commit to building out a joint ventured mine mine in 4 years with them footing the entire bill prior to any revenue realization

In other words Salazar created the situation that I daresay has Teck seriously agonizing over how much, and how soon, they want to pay to play in this highly lucrative venture in their own safe backyard

1
Oct 07, 2012 05:24PM
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