Re: My one concern....question for the board
in response to
by
posted on
Jul 29, 2013 03:17PM
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%)
The 60 million that must be spent on exploration is our anti-mothball clause. That is a juniors dream to have that large of exploration budget. We can surely increase the value with additional drilling. Only 85 million was spent in the previous years - so 70% more money will yield more certaincy and value for the whole project.
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I thought they had to make the production decision to proceed past 20 million? That is the way I read it, but I could be wrong? I also thought that after the production decision we could halt exploration and move onto building the mine.
It sounds like everyone is well aware of any risks, so no need to talk about risks anymore.
Sorry for the interuption, now back to your regularly scheduled programming....