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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%)

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Message: Re: 30 days, 60 days, 120 days?
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Mar 15, 2013 06:09PM

If no actual percentage is elected for the first definitive JV, how would Teck know what the earn back is?

The two things are unrelated. The first JV only carries on our current Agreement, plus they could add stuff I suppose. They don't need to specify the percentage, only say that upon Teck earning their chosen percentage another JV will be formed.

Teck has to declare what percentage they intend to earn back within 120 days, but this is not anything to do with the 60-day JV, or at least it doesn't have to be.

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