Re: Elmer - Exercise of options
in response to
by
posted on
Jul 12, 2014 03:40PM
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%)
...and seem to have "moved on" to places I don't want to go.
I get this, it has been a disappointment to say the least.
But, what can Elmer do right now? Teck is in the middle of trying to improve the project and is the operator. CUU can't do anything with Schaft Creek.
All Elmer could do right now is try to sell our share and it obviously is not good enough from that FS to be sold. He has to wait for the optimization studies.
(BTW, I know people don't like Arizona but apparently at PDAC everyone was congratulating them on such a good buy. I guess the proof will be in those drill results if we ever get them. You can't knock the decision on Carmax since it has gone up substantially and their recent PP was oversubscribed so it would seem to indicate something good.)