Re: Teck took it all for a reason

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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%)

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BurningRoF

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Re: Teck took it all for a reason

in response to

Teck took it all for a reason

cuuvette350

posted on Jul 17, 2013 11:02AM

Teck could have picked 20% or 40%...and not be required to finance this to production.

I am confused by this comment. We still owe our 25% share of the CAPEX to develop the mine. Teck will be responsible for arranging debt and financing for the capital costs. They will loan us the money for our portion. We will have to pay that back plus interest from revenues from the mine.