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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%)

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Message: Re: What's Next. - Don't look at it.
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Feb 05, 2013 07:12PM

So let`s put these imaginative conjectures where they belong .. in the realm of fiction.

It's not an imaginative conjecture. It is why the clock hasn't started even though the feasibility has been published. It doesn't matter who does or doesn't use NPV 12%, the contract requires that for an automatic pass and as you can see Teck is using the clause to review the feasibility.

This is what you said and it simply is not true: Everything is on our side legally. We have fulfilled our end of the bargain. If you want to talk about imaginative conjecture then this is that: "IMHO, I think management has been in negotions with Teck since the BFS was made public on Dec 21. They received an offer and it was rejected as too low."

What I'm trying to understand is the actual facts and position that we are in at the moment. It is absolutely clear that the 120 day clock has not started and that Teck is reviewing the feasibility. The possibility remains that we could have a problem.

I'm not saying I believe it will be a problem, but we're not in the clear yet. I don't think it is helpful to just pretend everything is okay.

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MES
Feb 05, 2013 07:41PM
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