Re: CUU 's sc true value?
in response to
by
posted on
Jan 13, 2014 08:06PM
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%)
Teck walked, you really think we wouldn't be at 33 cents? Please go look at Catalyst Copper
If you are comparing us to Catalyst Copper either pre Salazar or after then we're really in
trouble.
The problem is that the old agreement didn't make sense in spending $360M on exploration
Under Salazar the 4 times expenditures was for exploration and development not just
exploration.
That being said, the best part of the agreement is Teck willing to arrange financing for CUU
The last thing we need is no buyers lined up and having to finance our share if and when a production decision is made.
Elmer mentioned to me many times he dropped of the FS
Dropping off the feasibility study is not the same as serving them the feasibility notice
to invoke the 60 and 120 day provisions of the old Salazar
Even so, Teck back in now, it doesn't matter if it was served or not anymore
I agree.