Re: Nova
in response to
by
posted on
Oct 11, 2012 12:35PM
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%)
If "additional entrants" have indeed arrived to the Galore table. Then that confirms the reports from CUU that additional interests have poked their nose around their property. The more the merrier.
I wonder if Xstrata is one of them, since they have an interest in our property. Even if the Glencore merger does not go through, a major like that could quickly team with Teck to build the "Mega Schaft-Galore" District.
I agree with Vette that NovaGold is clearly waiting for our BFS before they move forward with any deal. Because if Teck takes us out, then NG stands in a better position to sell off their portion for more. NG would own 25% of the "Schaft-Galore" district. Keep in mind its the "crappy" half of the district.
This report is encouraging that NG expects to sell off by 1Q 2013. Extending their original timeline by 3 months. Things should be moving very quickly for CUU if thats true.