Re: some numbers/cbew
in response to
by
posted on
Jan 26, 2013 03:02PM
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 recall that, in conversation someone had with Elmer Stewart, he would take any offer to ALL shareholders. Perhaps that someone could confirm?
Yes, I can confirm that. I asked MS at the convention if they would take a buyout decision to all shareholders. His answer was yes they would. They wanted to follow SEC guidelines even though one shareholder ( EE ) will ultimately decide. It is also prudent to do so as it allows any other competing bids to enter in the marketplace. Just look at other companies that were acquired. Most allowed at least 30 days for all votes to be counted and also other competing bids from other companies. They will do it this way so that no one can accuse management of not allowing sufficient time to get another competing offer. This is what I was told at the convention.