Re: made a call...
in response to
by
posted on
Nov 28, 2012 05:00PM
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%)
"as we all know the, the external review by Merit is complete. the Internal review is complete."
I don't think we all knew that and there was plenty of speculation that the BFS wasn't done, let alone the reviews. If the reviews are done they should release it immediately. As per the news release on September 25th:
Moose Mountain Technical Services has completed the "Mine Plan" for the Schaft Creek project. The optimized plan will be used to complete the economic analyses and project sensitivity. All other aspects of the Feasibility Study are complete. Merit Consultants International Inc. of Vancouver, British Columbia has been contracted by Copper Fox to perform a peer review of the Feasibility Study. Merit has been providing Project and Cost Management services to the mining sector on both domestic and internationally located projects for over 30 years. Simultaneously Copper Fox will be performing its own internal review to be led by Matt Bender, Registered Professional Engineer (Metallurgical), who has extensive background in this area and was the author and a "Qualified Person" of the 2008 Schaft Creek Pre-feasibility Study. Once these processes are complete the results will be announced by way of a news release.
So if the reviews are done, they should release the results. Because we haven't seen anything, this may imply that the reviews aren't finished. That makes no sense given how long it's been.
I asked if it is possible for Teck to have negotiations with CUU as we speak - he suggested as to "why would they, they haven't seen the numbers".
I don't believe that. How would he know? He doesn't work closely with the project and is informed by management that does work with it. Even if they did, he wouldn't be able to - or at least shouldn't be able to tell you - that they had. That's material information.
He also told me point plank - he is not in a black out.
This goes against so many other posters. I have doubts.