Re: My one concern....question for the board
in response to
by
posted on
Jul 29, 2013 09:54AM
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%)
Awesome copper mines are extremely hard to come by. Good copper mines are less rare but still hard to come by. Even if we are only a good copper mine there will still be a lot of interest. There is a lot of Mining companies that are going to extreme measures to secure as much land as possible. If you are a miner and you have no more land to mine than you go bankrupt plain and simple. Teck is currently getting beaten up as they have been in the black last few years thanks to the rapid decline in coal and they have been propped up by copper. QB2 is going on the back burner so they need to prepare themselves as best as possible to go mining in the next 5 years. Our 25% is very valuable and i have a gut feeling offers will be placed on hold by CUU management until the East gets drilled. Because of the partnership CUU has with Teck it only makes sense to give Teck the first crack and then open it up to any other bidders.
There is no point to entertain any offers until we get those results as we will become much more valuable.