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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%)

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Message: Re: Inferred
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Jan 09, 2013 12:53AM
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Jan 09, 2013 08:57AM

Who here really thinks Teck won't do the numbers saying ''hmmm let's replace the waste rock cost with revenue and see what the real IRR and NPV look like'' Oh ! we just have to do 10 shallow infill drill holes...

Well, because we somehow failed to get these 10 shallow holes done, we're back to guessing what Teck will do. Is there a decent possibility that Teck will use 5%? Only Teck knows. Will they give us full credit or partial for the waste rock? Or very little? Only Teck knows.

In my mind, the burden of proof to show that Teck will back in based on a best-case scenario, is still on whoever is trying to show that. The BFS should have cleared it up, and it didn't. So I think we're back to a lot of guess work and ignorance frankly.

That's why some, in light of the circumstances surrounding the biggest event in Copper Fox's history to date, have de-risked their positions after waiting many years. To each his own, as always in investing. I just don't think your scenarios about Teck are such a sure thing, nor do the industry people I talk to. They are possibilities, but how strong, only Teck management/engineers know.

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