Re: What's next -WG
in response to
by
posted on
Feb 12, 2013 12:33PM
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%)
They've been telling us for a while how they see the value coming from this. The ROV is what they will base their expectations off. The waste was left because they see it as value. I would speculate they are valueing this off the returns not the pounds. This is why we are buying time to advance the permits.
Add in our buyout cost to the 8% after tax valuation and we'd have to sell for about 4 cents a pound. That's diddly squat. Anything over 4 cents would make this unfeasable and definately not bankable. We are not selling this as a deposit. So to expect the sales price to govern the buyout you'd have to expect this to be a mine.