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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%)

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Message: Re: A few thoughts
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Dec 13, 2012 12:00AM
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Dec 13, 2012 12:11AM
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Dec 13, 2012 12:11AM
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Dec 13, 2012 12:36AM
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Dec 14, 2012 09:39AM

Meta,

I'm pretty sure I'm in the dark as much as anyone on this matter, and I've just tried to string a few clues together. The people I know and have met from Wardop are good people, very competent, and have good track records - and I have heard a few times about the personnel they have lost to other engineering firms this year and last (manpower issues as reported were real, and quite normal for engineers to move companies in mining it seems). TT Wardrop specialize in doing feasibilities such as ours. There are 200 FS this year globally by the parent company Tetra Tech (who bought out Wardrop Engineering a few years back), and the Vancouver office works on Copper Fox and global feas. studies too. No one from Wardrop has talked directly to me about Copper Fox (and they shouldn't as they have signed NDA's most likely), but I did get the impression that it was basically done in October ... so I'm surprised by the continued wait myself.

Is there a holdup? Does it actually just take this long to do review/complete, did Merit have a few ideas on how to save money so they made some last minute tweaks? (Merit is good at this and specialize in the finance end among other things) - I'm really not sure. Running through the numbers again (extrapolating roughly from 2008 as we don't have the new ones!) I still think we're really undervalued and can't see something really wrong coming with the BFS.

The resource is there, the NTL is going to make a huge difference and CUU/other mines have reported being in active talks with BC Hydro. In other words, everyone (Hydro, mining co.'s, government) is planning for numbers of new mines to come online in the Golden Triangle in the next few years/decade. And the partnering together with the Tahltan nation has been stellar from what I hear - as I understand it there is a lot of support for Schaft Creek.

That's all I got. I want this done sooner than later, like everyone else, but can't do anything now except wait. If Merit, Moose Mountain, other consultants and TTW can't figure this out and come up with a profitable plan, we're not going to either!

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Dec 14, 2012 10:12AM
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Dec 14, 2012 10:37AM
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Dec 14, 2012 10:48AM

Dec 14, 2012 10:52AM
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