Re: Liard Share/simc
in response to
by
posted on
Jan 13, 2014 10:29AM
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%)
First of all, Teck bought 75% not to sit on it. If they wanted to do that they could have not backed in. Besides the BFS, Teck has known for yrs. what some of the property holds, thru previous drilling of their own. CUU just verified their efforts and at the same time stepped out and found new deposits that showed the expansiveness of this deposit prompting the phrase "district". Sure Teck can go ahead and build a mine without buying CUU's 25% share. But, we still have the option of selling "to the highest bidder". If Elmer, EE and the rest of the insiders decide to ride it out, the longer they wait and the closer to production Teck gets, the more the 25% is worth. Teck is not going to build a mine and spend untold $million$ of dolars to go into production without MAKING MONEY ! They are. after all, a business, and they have to answer to their shareholders too. We have all seen the numbers that justify building a mine & producing. AND, we all know that the numbers are for maybe a 5-10% area of the "DISTRICT" properties that make up SC and the surrounding properties. PLUS, we all know the numbers that are used in the BFS were kept at the lowest possible to justify this as a "BANKABLE" project and reason to go fwd and build a mine & produce copper, (gold moly,silver) JMHO. Whats everyone elses thoughts? Are we now a prisoner of Teck? Do we have to wait on Teck for more drilling and good results to sell our 25% ?