Re: New buy out / back in pool
in response to
by
posted on
Mar 19, 2013 10:55AM
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%)
That's the problem. It's still potential. You buy proven and tested models, not concepts. When you do buy concepts, you pay much less because you're taking a greater risk. The BFS was supposed to "unlock the potential" but we're still here sitting on so much of it.
It's not the same it was pre-BFS because pre-BFS we were expecting higher numbers (i.e. more potential!) and were in a market where everything else, though not necessarily fairly valued wasn't doing absolutely garbage.
Again, when we're bought (and I believe we will be, not necessarily right away though) it will be higher than it is now. However it won't be as high as most of us have predicted IMO.