Re: did you know if you..SC, you mean thiat little underlined sentence...
posted on
Jun 04, 2013 11:37AM
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%)
Foxy, Foxy, you don't know that any delay would simply be a day or two. CUU and Teck could have agreed to extend negotiations for another few months.
That could have implications for a number of investors here. Having a firm handle on timelines is an important part of the game. Reputations are made on delivering by deadline, or, alternatively, at least having good communications skills.
Since analogies are popular here, let's use a comparison to a contractor. Would you be in a hurry to hire a construction company that is notoriously months late in completing a project? If you did go ahead and hire that company despite that reputation, would you not at least expect an explanation as to why the terms of the contract were neglected?
While EE holds the cards with his majority ownership, these repeated delays, and the lack of word to shareholders, means some investors here certainly won't be in a hurry to follow EE or Elmer into Arizona or any other play.
If they don't care about retail investors, they might as well come out and say so in the next NR, whenever they decide to release it.
By the way, I write this as someone who is not overextended. I am in no financial jeopardy if this story doesn't conclude today or even in six months. However, some others are in dire straits.
I sympathize with their frustration over management's failure to provide any indication of where things stand, and the opportunity cost of watching other stocks make moves while they're just trying to break even or make a profit on their CUU holdings based on previously stated timelines.