Re: Delivery of BFS to Teck
in response to
by
posted on
Jan 17, 2013 12:00PM
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%)
I think Roulston captured the essence of what happened here:
"The Schaft Creek feasibility study results followed the pattern of many other large,
low grade copper-gold deposits as compared to the preliminary economic assessment
and prefeasibility study results: capital cost and operating costs are higher and
the net present value lower. Investors reacted accordingly, pushing the share price
down. The feasibility study results are positive, but far less so than the earlier studies."
I know I was attracted to the numbers in the PFS
Lesson learned.....