Re: back in
in response to
by
posted on
Jun 10, 2013 09:23AM
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%)
Good point RT. Also if there were potential partners lined up as some say, there is no way it would be so tight lipped and we would be trading at a much higher level. At this point, our only near term hope is Teck and since the negotiation/discussions are on going. Teck's initial offer was probably very low and now CUU is trying to squeeze a little more.
CUU has to get Teck on board, or the future "post substantial reverse split" will be very grim. It's great to have all these resources on our land, but if CUU gets too greedy the pounds in the ground will remain just that, pounds in the ground.
A junior exploration company like CUU does not hold the big end of the stick in these negotiations, there is only so much funds available from insiders, and I am sure they will quickly try to bail if Teck walks, as this will quickly become a bottom less pit for a junior with 440 million shares + outstanding.
Before anyone gets too excited, please remember I am also a shareholder. Therefore I also want to get as much as we can.