posted on
Jan 21, 2013 11:46AM
Welcome To the Copper Fox Metals Inc. HUB On AGORACOM
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%)
Message: Re: VIRC
They found a couple of spots that could make the 12% cut and agreed to forego that option. This is the starter pit portion. The terms were intended to set out a minimum starter operation that could act as a stand alone. It quickly became apparent that a larger study was required. Teck probably kept the option in the case where ii failed to meet the $1. This has a lot to do with the main option clauses. The capex costs between 25kta and 130ktd are huge.
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