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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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Message: Spin Off for discussion

So the plan as I understood it was to finish Schaft Creek, have a liquidity event, pay out and then roll the share back and do it again on another property.

So, markets have not allowed the liquidity event. 25% of Schaft isn't going to fetch a reasonable value in this market. I don't want my holdings of Schaft creek given away for millions when it is worth billions.

I also don't want my shares diluted with exploration expenses on another property. So the only way I can see going forward is to spin CUU2 off CUU leaving enough money in CUU to cover corporate expenses until an opportunity to vend Schaft comes along.

Then managment can roll back the shares and start building up the new properties. How would a company split the company say leaving 100 million shares in CUU1 and 300 million in CUU 2 (to be rolled back to 30 million). Would doing this wipe out value on the roll back or would the value ballance out? Or would it just make sence to split off CUU2 with 10 million shares and leave 400 million with CUU1

interested in what people think.

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Aug 10, 2013 09:57PM
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