Re: New buy out / back in pool
in response to
by
posted on
Mar 18, 2013 09:05PM
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%)
20% back-in on April 23 (early enough to affect the drill program)
100% buyout November 4 at $1.50 (after the EA is submitted, prior to drill results being published)
(cue the pitchfork crowd)
I chose $1.50 because it's close to the NPV at 8% and because it's a nice premium on the current share price.