Re: And forgot to add - teck and galore
in response to
by
posted on
Feb 09, 2013 02:21AM
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%)
...Keep in mind Galore and Teckland. The FS summary described a fuel transfer/pumping station at Bobb Quinn - Galore plans to have a concentrate loading station there too. Galore already has a lot of land in the area for its station. Cuu has a contract with the port; Galore doesn't..
Chappy, excellent post as usual. I'd like to add that i have consistently posted (for seems like years) that i feel much of the delays we experience can be attributed in part to Tecks relationship and investment with NovaGold at Galore.
Neither company has stopped drilling and working at the Galore property. Teck recently posted for a logistics manager for Galore, and Nova Gold has posted for geologists for the same. Perhaps they have a written agreement that they must continue exploring, regardless of NG's decision to try to sell it's share. Though the property had a large cap-ex and contributed to the halt in a large scale development, they have both sunk millions of dollars subsequent to enhance the project - imho this can't be ignored.
Posters have repeatedly speculated that Galore is 'dead' - i dont agree; perhaps for the short-term, but mining companies are having to go further and into more challenging areas to source future strong reserves. I may have fallen off one too many turnip trucks, but some time in the future, i see serious action. heck, i believe even Romios Gold borders Galore and has valuable gold deposits.
anyhow, glta and those of us in BC, enjoy the long weekend.
cheers
jaf