Re: Looks like it will have to be tomorrow
in response to
by
posted on
Mar 28, 2013 02:11PM
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%)
They can show them all they want, but other companies will not put in the very large amounts of money to investigate SC until they find out what Teck is going to do. It is a major commitment to spend over $3 billion and they would want to do a thorough job of DD. Look how long it is taking Teck and they've been working hard on it for a long time. They have many of their people looking at the project. First there was the technical people, then the lawyers and then maybe a committee of people who weigh all the projects they have available and the costs and the timing and management and who knows what else they have to balance in order to make a final decision. Don Lindsay, or one of his people, also said they would run any deal they were thinking of entering by their analysts to ensure they didn't lose their triple B rating. It's a big, big process that nobody else will begin until Teck declares.