Re: Mineweb Article - Thoughts
in response to
by
posted on
Jul 18, 2013 09:59AM
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%)
What else wud be "better" in your estimation?
Well we got $60 million cash + Teck spending $60 Million on exploration (more than enough when you already proved 2 Billion tonnes).
When we discussed how Teck was going to spend $350 million on exploration, many said ''buy trucks, build roads etc''
Well what's the difference between spending $350 million on trucks and roads VS fund the development and construction cost without diluting ? One in the same to me.
At least we get $60 million all on exploration (more or less if required)