Re: My thoughts/opinions on why CUU is down
in response to
by
posted on
Aug 22, 2014 09:16AM
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%)
"What they worry is what happens if a big buyer comes in and buys a big chunk of CUU? A vulture capitalist or shareholder activist or someone that has interests in what Schaft Creek produces. They can delay the whole buyout if they wanted to."
I don't understand this. Unless EE were to private sale to someone, it is impossible for anyone to buy a big enough chunk to slow down any buyout. Basically if EE accepts a price it is approved by majority and will go through (obviously EE could stop a buyout, but that's why Teck tries to make him/Elmer happy). So nothing like that can actually happen, of course CUU could sell its interest, but that is a different thing.