Re: Cambridge Weekend - Questions CBEW
in response to
by
posted on
Jan 20, 2013 02:20AM
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%)
I noticed that your graphic shows us at less than 1.0B tons. Are they using the old RE numbers?
They are using the feasibility numbers of 940.8 million tonnes of proven and probable mineral reserves. The figures in the resource estimate will no longer be used for these comparisons since the feasibility de facto proved them uneconomical.
It would be interesting to note at what stage the other projects are defining their assets because it makes a big difference in these comparisons. When Teck did their presentation they made note of what stage the projects were in because the accuracy of the figures changes so much when producing a feasibility.