Re: So many things don't add up...
posted on
Nov 01, 2012 01:43PM
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%)
Yes, so many things don't add up but here's my theory for what its worth. IMO, I believe we were on schedule to finish the BFS by the end of Sept. After all, our internal review started when we hired Matt Bender at least 3 weeks before the end of Sept. We had all the data ( Mira etc. ) ready for release. Teck then saw our data and preliminary numbers and said hold everything let's get another peer review by Merit someone we respect and trust. We like the numbers and we are willing to make a tentative offer of X dollars based on Merit's findings. Elmer saids ok the retail is not going to like another delay but let's get it done asap. Teck saids fine by us, just hold off on making anything public. So here we sit waiting for Merit to finish their review...