Re: What do we have to look forward to?
in response to
by
posted on
Jan 04, 2014 08:54AM
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%)
Yes, thank you Radagast for sharing that email exchange with Elmer. You have certainly been a great addition to this board. I appreciate how you maintain your underlying optimism for the long term and yet you don't let your hopes interfere with the present reality, which, in blunt terms, is a real bummer.
I find it quite telling that neofight mentioned a recalculation of the Schaft Creek resource as a possible catalyst, probably around April. However, in your question to Elmer about events that could possibly budge our lowly share price, Elmer didn't even include that resource recalculation. A major oversight? I think not. He probably doesn't see it as something that will attract major market attention.
After all, we went from 10.6 million oz gold, 98.3 million oz silver, 10 billion lbs copper, 700 million lbs molybdenum down to much more modest numbers with the BFS. So getting some of that back with a resource recalculation isn't going to make a big splash, especially in this woeful environment for juniors.
By the way, this leaves the door open for the cheerleaders to suggest that Elmer probably didn't mention the resource recalculation because it won't actually happen -- don't you get it? There's already a deal in place with Teck to sell Schaft Creek! Dollars are going to start raining from the sky! Yahoo!
Yeah, yeah, yeah. Whatever. Heard it too many times.
First off, in response to your question, Elmer cites two upcoming milestones as Van Dyke (PEA and drilling) as potential movers of CUU's share price. Much to Canada Grant's chagrin, management's attention truly does seem to lie in Arizona for 2014. And why wouldn't it? Schaft Creek is Teck's playground now. They're calling the shots. It's not under Elmer and Ernesto's direction anymore (other than what happens with the 25% of non-controlling ownership).
Regardless, as golfyeti noted, there hasn't been a NR from Copper Fox in years that has caused sustained share price appreciation. We need that turnaround in metals pricing and a renewed sense in confidence among investors in the junior market.
It's been a long, cold winter in much of Canada already, despite it having only officially begun on Dec. 21. I am fully prepared for many more months of suffering in the dog house along with Art, UET and others. Sure, I could sell more of my holdings in CUU and dabble elsewhere in the meantime, but I swear with my luck (or complete lack thereof), a sale of CUU's interest in Schaft Creek will inevitably occur as soon as I liquidate a good portion of my shares. Besides, the idea of selling in the mid-30s really leaves a knot in my gut.
Nope, I'm stuck in the frozen mudhole for a long while yet, I'm afraid.
Resigned to my fate,
YourNadir