Re: Delivery of BFS to Teck
in response to
by
posted on
Dec 28, 2012 10:21PM
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%)
Expected timeframe Teck would receive BFS is mid-January, 2013.
Just to clarify Liddy77, Lynn said that? So much for the beginnng of January.
So basically is the timeline like this:
BFS to Teck, triggers 120 day clock and at any time buyout (75%, 100% etc.) can occur.
By day 60, Teck must announce buyback interest for the JV (assume the contract stuff is not an issue)
After 60 days, No JV but at anytime until 120 days, Teck must announce a decision on buyout.
Comments?