Re: Stock Option---Question?
in response to
by
posted on
Jul 10, 2013 02:46PM
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%)
I agree with you, but remember Teck has the hammer. They can hang us out to dry if we don't come to some agreeable price that THEY offer. Don't you think they know our situation if we let them walk due to a price ES & EE won't accept? More dilution, maybe 2-3 more years waiting for another suitor, and maybe EE has shut off the unlimited funding, as he wants a conclusion in order to move on to bigger and better things. The "grass may not necessarily be greener on the other side". Although the word DISTRICT keeps coming up, the Salazar agreement and Tecks' back-in is all associated with Schaft Creek, and not all the other properties in the "DISTRICT". Please believe me when I say I want to see a successful conclusion to their negotiations, but I also know Teck has a responsibility to their investors to get Schaft Creek as CHEAP AS POSSIBLE, and in turn sell off sections at a profit to in effect cost them NOTHING, NADA....................for SC ! Surely they are looking at buying the whloe DISTRICT, just to do that & thereby cost them $0. Of course JMHO.
I have called Elmer and he said to me that if at any point that Teck has not been sincere during negotiations, he would've walked away from the project. He mentioned that Teck is one of the 6 miners that can take on a project the size of SC. Teck needs the time to go through the DD on a project this size.
As for EE, he is 100% supportive of CUU. They can go to him anytime if the company requires any funding.
Speaking of dilution, the company doesn't want anymore dilution. That's why they have held off any drilling.