Re: ..Who is selling? Question
in response to
by
posted on
Jan 09, 2013 08:52AM
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%)
...and further to the question coukld they spend $50 million and then back out
Not sure that they could be held to specific performance on building it out, but that is an issue in any deal of this magnitude
They would, in that eventuality, I suppose, forfeit whatever they had invested, including their Liard interests, and CUU or its successor would regain the entire interest