Re:My take for what it's worth
posted on
Oct 31, 2013 05:50PM
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%)
Glencore must sell Las Bambas before June 2015 as per the take over of Xstata.
Tech's Quebrada Blanca will soon be out of ore without PhaseII.
Looks like both getting out of South America, both need copper.
Glencore to get approx. 5.3B for Las Bambas.
3.7B capex at Shaft Creek, That leaves 1.6B to buy out Copper Fox.
That gives them 25% of Shaft Creek 26% of liard plus the10% they own.
If Tech gives them anouther 24% of Shaft Creek to do the capex I think we have a deal.