Re: Why would TECK walk?
in response to
by
posted on
Jan 07, 2013 07:52PM
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%)
That wasn't the question
Everybody here knows why they probably wouldn't walk away
The hypothetical presented was why they would
Lousy economics and optics of the BFS and CUU's required price could do it
And I am in the group, that would like for Teck to take a powder, but I think if that were to happen, coupled with our less than stellar BFS, we would probably be looking at sub .50 shares before Elmer could get the story restated to the satisfaction of the market
And in the interim be concerned about how EE would react to the additional burn
I think the best course is for us to go ahead with the shotgun wedding with Teck
Partnering with them if they don't want to pay what we want for our interests may wind up being best for us
..I just can''t believe they would want that...and we don't either