Re: So much for those who say CUU always sells off on news....not so
in response to
by
posted on
Sep 12, 2014 03:34PM
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%)
Can anyone answer what happens to us if Teck holds true to their stated project development cycle and we are a ways down then pipe?
We have two options going forward should we need to raise funds and avoid dilution:
1. We have a very large tax refund coming to us this year. It could be up to $12 million. After that happens we'll have a better idea of how much money there is available.
2. They will spinoff Northern Fox and Desert Fox and raise funds under those corporate entities and leave Schaft Creek alone with CUU at 413 million shares until Teck makes a decision.