Re: The Contract
in response to
by
posted on
Feb 13, 2013 03:03PM
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%)
You are correct. Bankable here can only apply to the definition in the option agreement. CUU, on it's own, could never produce any kind of feasibility study that would convince any bank to lend them $ 3 billion in capital funds. That applies to any junior company with no cash flow or assets. Even Teck will probably bring in an equity partner at some point, preferably after value is added to the property via new drilling or by acquiring the EA etc. First they need to take CUU out.