Re: come clean?
in response to
by
posted on
Mar 20, 2013 01:01PM
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%)
1)You said the company needs to "come clean" . What, are we negotiation the divying up of some Oreo cookies here? There is so much we dont know/see that it is absurd for you to expect the company to divulge all to you, a non-insider.
There are many issues the company needs to clean up with us:
- Is the FS accepted?
- 120 day clock started or not?
- Salazar agreement void or valid?
- Liard shares status - have we earned then or not?
I don't know why you seem to think the company has been so up front with us? They have been really secretive, and give me a reason why not 'come clean' with answers to above? How would these simple, but very material answers torpedo negotiations? Might bring the share price up, and that wouldn't be a benefit?
2) To state they have "misled" , is dangerous. I notice you did not specify whether it was intentional or not. You may have just covered your butt there.
Back in December 2011 we were going to get a FS in 2 weeks, they missed that by one year, and were not up front with us about any delays - that is the definition of misled in my books. The Salazar agreement on the website, but now it may or may not be valid? We need clarification as many of us used that agreement as part of our DD, but now is seeming toothless?
3) Teck is leaning on CUU? Where does that info come from. someone else's post?
I am assuming that Teck is pressuring CUU to keep us in the dark so the share price will languish. Yes, only an assumption.
4) "Deception from the company" - good grief. Do you walk around in your perfect little world, with your perfect little spouse and perfect little kids, and perfect job and nothing EVER GOES WRONG? or EVERTHING ALWAYS GOES ACCORDING TO PLAN?
No. I will not insult you either...
5)Us the shareholders pressuring the company? ha ha.
It doesn't hurt to have it in the back of their minds that they better treat us fairly. I did say I didn't want to go to court, but I know if someone is watching me closely I am sure to do it right.
The biggest pressure comes from the person who has invested millions in this already. He obviously is content so ask yourself why you arent? one answer: Expectations.
I think that is a pretty big assumption on your part (EE being content). He is trapped more than we are. He has to keep investing to protect his investment. Assuming that he wants to fill the PPs is just that. If he started dumping he would lose his investment as the price would crash. So he IS trapped. Maybe he is content (I would be happy if he was), but my point is we just don't know...
So who here is so naive to think that pulling together a multi-billion dollar regional play doesnt have dynamics and variables that change as things progress? This 'agreement' was written LONG BEFORE we knew what we know today. So, even the so called 'informed' at the time (Salazar) would attest that things can come along (change) and you deal with it as it arises.
I guess I am naive. I expected the company to keep us informed with at least a reasonable amount of information. Not information that would torpedo the deal, but information that would bouy our share price. If they are keeping the price down to get cheap shares for the PPs, that is NOT acceptable to me. Maybe you are fine with that, and you have every right to your opinion.
My guess is that an agreement was reached some time ago to have CUU play this as quietly as possible without breaking any security laws. Teck has dangled some sort of carrot out there that has made our team (including lawyer) say that this is reasonable and acceptable.
Guesses may be good enough for you, but how many guesses have been right over the last 2 years? If this comes to fruition, GREAT!
So what is the carrot?
JV for the rest of the property? Something that sets CUU up for Life Beyond SC?
btw, mgmt knows our frustrations and are in the unenviable position of assuaging our fears/concerns while Teck stick handles something behind the scenes.
It will all become so apparent later and we'll understand why Low-Key was the operative phrase management played by.
Hopefully you are right. I am invested too deeply (yes, my fault - many others in same boat) to dump shares now, but I don't want to rely on 'faith' to keep me going. Again, I didn't say file a lawsuit - I want them to know they are being watched by us. If they think some of us are collecting stuff for possible future use in case of a disaster, I can't see that as a bad thing. They are supposed to be responsible to the shareholders and build share value not supress it. I am not saying they are suppressing it, but it sure seems that way.