Re: ..Who is selling?
in response to
by
posted on
Jan 09, 2013 02:16AM
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%)
Even if Teck were to back out it is in Galore Creek Mine Corporations bext interest to enter into a road use agreement with Schaft Creek. It build part of their road, a very expensive bridge across more creek and saves them money on road maintenance.
Also I think if the road were to become an issue holding up the construction of Schaft Creek Mine Galore Creek would face some very difficult political consequences.