Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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%)

Free
Message: Foxy's theory...what if Galore Creek is the Elephant in the Room and Teck is....

"I've never understood exactly how folks figure that Tck pulls strings with Cuu."

The logic is that the BFS by contract forces a number of actions to be initiated by Teck

1. convey the Liard shares

2. plan a CUU controlled JV within 60 days to begin mine development

3. start a 120 click on the backin decision

4. start a 4 year clock on earning their interest in the mine

It is reasoned by some, me included, that Teck would like to either avoid these actions altogether, by a buyout of CUU's interests in Schaft Creek, or have their game plan established prior to the triggering BFS release

Among other things, a plan for financing the startup CAPEX would be a complex exercise, expecially if the speculation that Teck would be partnering with the Chinese or another major in bringing the district to production is accurate

For these reasons, and because I don't think Elmer is particularly keen to go into the mine development business here, I think he may be co-operating with Teck to give them time to get their ducks in a row

That being said, he must be feelong pressure from the CUU side to drop the BFS

Share
New Message
Please login to post a reply