Re: CUU 's sc true value?
posted on
Jan 13, 2014 05:19PM
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%)
Right on golfyeti, teck backed in which, in itself is a declaration of intention to develop this property. the study indicates the mine will take a min. of 4 years to build and the road approx. 15 mos.. remember it requires one major and two smaller bridges.
A huge mine can't be built until the road is in to transport all the giant equipment it takes to operate it.
Teck recently stated they expect a copper shortage in or by 2020. I've read other estimates which indicate it could happen in 2018-19.
Much of the work was done by Shane for the road approval, and if the above timeline is anywhere near accurate, we need to start building this year. the EA for the road is needed ASAP. then watch our shareprice grow.
4-5 years ago I watched Dr Kevil being interviewed on BNN, and he literally gushed about the richness of the Shaft Creek resource. that was before we discovered the Paramount, which in some places goes right up to the surface.
I don't pretend to understand why all these questionable things happened in the past. the truth is, I no longer care. the only important thing to me is, I am confidant Teck is committed to moving forward on this project, and this is the year it should begin in a meaningful way.......chunky