Re: Thoughts - those Yummy Gingerbread Liard Shares
in response to
by
posted on
Dec 27, 2012 05:17PM
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%)
If you read clause 15.1 carefully, and I've been guilty of not doing so in the past, it actually says within 60 days of feasibility Teck has to deliver to CUU a definitive option joint venture agreement for review. They then have to use their best efforts to settle in good faith an agreement to replace this current one. There is apparently a non-specific time in which the agreement is to replace the current one.
I think we'll get an offer or a decision from Teck easily within that period of time. They have had plenty of time now to make up their minds. I would assume they wanted to be able to discuss the details with potential partners or funding providers and that's why they wanted the information published.