Re: Drill program: Opinions
posted on
May 01, 2013 11:02AM
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%)
- TECK walks (imo, very remote, they would have done it already): now CUU owns 100% of the project. We could sell 10-20% stake in it for about 50 to XX million to cover cost of a major drilling plan, resource update and BFS update. In this case we don't really need a major miner, a mid-tier would also be interested in getting a slice of a mining district for a song. In about one year time CUU would sell an 80% stake in a very much improved project with no dillition of O/S.
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IMHO, seliing off 10-20% or dilluting 10-20% isn't all that different.
Just a different kind of dillution?
Hopefully one of the first 2 options comes to fruition.