Re: 171m tonnes, drills pulled
in response to
by
posted on
Jan 02, 2013 08:34AM
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%)
A) They didn't want to spend more money (drilling, updated RE) knowing that all they needed was a positive Feasibility to trigger Teck, and they know Teck knows the inferred is miniralised. And since Insiders own 65% they can say yes or no to any offer.
Makes sense as ES in the conference call said it was cost saving measures when asked...