Re: Forgive me I haven't called ES but what's with the money
in response to
by
posted on
Dec 05, 2013 08:27PM
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%)
There are a few things for you to consider.
1. IF CUU drills the waste, we would need to raise another $10 million. (We don't have the money.) They didn't want to dilute the shares even further.
2. It's not really waste, it still has mineralization. It's just in the inferred categories. Teck is the company that has those drill cores. They know that the "waste" there is mineralized.
3. Remember this. Every extra dollar we get for CUU, Teck is worth $3. They own 75%.