Re: Drill program: Opinions
in response to
by
posted on
May 02, 2013 12:07PM
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%)
The CCY-Teck option to buy out Teck's 40% interest is for $20 million cash or $25 million (cash/shares). CCY has nothing to do with Arizona. Interestingly if CCY cannot find a partner to buyout Teck, it all reverts back to original Teck buy-in of a further 20% for $20 million expenditures. I still don't understand why Teck was so accommodating and quite frankly wonderful!