Re: Partner probably funding the whole thing?
posted on
Jan 03, 2013 03:25PM
My own take is that we're in a holding pattern unless the BFS summary that gets filed reveals more juicy info, or if that doesn't contain much that is new, we wait for Teck. What they will pay for potential is a big question. What they will pay based on the Tetra Tech BFS will be very revealing too. I don't like how little we bought SB in AZ for - it has lots of potential too, despite water issues, etc. - I'm not suggesting it compares directly to Schaft's potential, just that CUU paid so little for billions of potential lbs of Cu in AZ. Very hard to say what our potential is worth right now (eg. Next 3-6 months)
In any case, I think we have some big wildcards. I thought the BFS would help me fine tune my buyout expectations ... but I think I have more questions now. Hopefully the BFS can get filed by the Van Res Inv Conf so some of us can chat with management more fully about where we are at, and what transpired with the pit design (I like in person better than phone myself, when possible).