Re: Investing 101
in response to
by
posted on
Jan 17, 2013 12:49PM
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%)
Drilling could start in March and possibly a result could come back by the end of April. That is just enough time to sweeten the pot for Teck with a few more holes.
Teck may have been responsible for the drilling halt but could have changed their minds post BFS.
Roulston points out that the BFS base case does not support a mine on paper. That means we are stuck proving the case like it or not. Did we calculate this gambit through?
If we don't accomodate Teck with delays in the clock then we are offering the pawn. In that case mobility will count. We'll need to see a great deal of activity because we will intend to go to the open market for a partner or take out.