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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%)

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Message: Re: Las Bambas sold
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Apr 13, 2014 05:08PM
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Apr 13, 2014 05:33PM
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Apr 13, 2014 09:55PM

Based on Las Bambas what are we valued at?

I don't know but here are some figures.

Las Bambas had a capex of $5.2 Billion, and had to relocate a community. Ours is around $3.2 billion.

Their life of mine cash cost per pound is $1.89. (Schaft Creek is around $1.15/pound.)

They are significantly de-risked compared to SC because they have permits in place and have begun construction.

They have a similar mine life and estimate it could go longer, but I think we have a closer estimate of how much more we have with the waste rock. I don't know whether our "district" will pan out, but Elmer seemed to think it might.

We're in BC and Las Bambas is in Peru. Peru is in the middle of the pack in terms of geopolitical desirability. They have lots of taxes and they might be increasing. They have lots of environmental regulations that cover mineral rights and water needs and surface land rights for roads, etc., separately. No more than 20% of a workforce can be foreign, and that puts pressure on available labour.

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Apr 13, 2014 11:38PM

Apr 13, 2014 11:43PM
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