Re: Year End Financials
in response to
by
posted on
Feb 14, 2013 04:52PM
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%)
"question... Can we sell our 25% at anytime... even now per say?"
Technically, Cuu, the company, can be sold at any time, even now, by selling all the outstanding shares. The buyer simply assumes all the assets and liabilities of the company.
In the same way, technically, Cuu can sell its 25% of SC, the asset, because the maixmum that Tck has an option to back in for is 75%.
But in reality, none of the above transaction is going to happen. Cuu management is not going to sell until it has some idea what the offer is, if there is one, coming from TCK; and no buyer would know how much to offer, not knowing what they are really buying, if they buy all the shares, or who the partner may be. So "for better or for worse", we are stuck with TCK until they make up their mind one way or the other; let's hope soon! JMO