Re: My one concern....question for the board
in response to
by
posted on
Jul 29, 2013 01:34PM
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%)
Then why did they throw out all the anti-mothball clauses?
There weren't any anti-mothball clauses in the old Agreement. What are you referring to?
I don't think any major is going to be tied up with anti-mothball clauses. They need the flexibility to pull back when necessary. They are doing this with all their other projects at the moment. For instance, they've just pulled back on QB2. In order to keep their ratings where they want them they have to have the ability to balance their capital spending.