Re: Where is the feasibility study?
in response to
by
posted on
Jan 31, 2013 03:42PM
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%)
"With the stroke of a pen Teck gets 75% of the reserves wiithout essentially spending a penny, only a committment to spend $ 340 million"
ummm...
That probably requires a legal or accounting opinion
I would be surprised if they could move that asset onto their books
My understanding it that the interest is not earned until the backin multiple is spent
..why CUU remains the principal in the JV until then