Re: Spoke with Management about BFS/Vette
in response to
by
posted on
Oct 27, 2012 11:05AM
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%)
So to recap, at the Toronto show in late September we were told the Merit/Bender peer reviews of the draft BFS info wouldn't take long.
We were also lead to believe the BFS will be several thousand pages in length. We know that Merit was commissioned in March to do their review whenever the draft info was available and that Matt Bender came on board sometime in August with all his background info from his involvement in the 2008 PFS, and was well into his review in late September. We don't know when Merit actually started their review, which is an important piece of the puzzle to outside investors because it is a third party peer review by a recognized and well respected industry specialist. We do know that 24 of 25 sections of the BFS are done. Elmer has said the final economic feasibility analysis (25th section) takes 6 hours of spreadsheet input and assessment. And we were also told that Teck Resources downloaded our entire data base in August (or earlier) presumably to run their own numbers.
So ... Merit's review of the entire several thousand page draft report was done in a week (per Elmer Thursday but didn't say when it was completed) which I would have to assume means Matt is done his review since he has more specific knowledge of the project and more time to focus. Elmer indicated Matt will be kept on to stickhandle the final report input with Tetra Tech.
OK - Here's my speculation - "I suspect that Elmer will be working this week-end on the final number presentation (possibly drafting the NR) in preparation for meeting with Tetra Tech and Matt in Vancouver early next week. Don't forget, our corporate lawyers are there as well and they will be vetting any final NR. Of course Teck is also there but ... And, of course the biggie in super sleuthing DD ...- wait for it - Elmer went to Acadia University in Nova Scotia, where the offshore water temps keep the land temperate until well into October and some locals might be tempted to look at Halloween as the unofficial end of summer as compared to Calgary where hell has already frozen over!! So with our corporate year end this coming Wednesday and the unofficial end of summer in some people's minds also occuring on that date, I'm calling for the BFS NR by Wednesday."
So go ahead frisbee throwers, take a gamble on no halt next week.