Re: No magic $1.05
in response to
by
posted on
Oct 20, 2012 03:31PM
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%)
At the end of Q3, there were about 11 million warrants outstanding with a total strike price of almost $7 M. Since then, another 4 M warrants have been issued with the PP and these will generate about $6 M if exercised. In other words, once all the OS warrants are exercised, and most likely they will be, Cuu will generate about $13 M. That should be enough to pay off the consultants fee for the BFS and the legal fees etc. We don't need another PP for dilution! Let's get it done! JMO