Re: Year End Financials
posted on
Feb 14, 2013 03:24PM
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%)
Finally we seem to be forming a concensus, the contract allows Teck 30 days to determine if the FS conforms to the letter of the contract. We're playing nice guy because if we got pushy, Teck could say no, it's not bankable under 5.5,11 of the contract, and we'd be back exploring, making a new RE and a new FS.
Count on another year, at least, for that to happen and some of us would have to sell a lot of our holdings.
Because Feb. is a short month, the 30 days occurs on March 6th.
It is obviously smart for us to work with Teck during such a critical period otherwise, we'd be shooting ourselves in the wallet...not good.......chunky