Re: Semi-OT: INK Research on Teck and Mining Overview
in response to
by
posted on
Sep 26, 2014 02:26PM
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%)
With due respect, can you tell me why you feel Teck needs to buy out Schaft Creek? I didn't think Teck needed to buyout Schaft Creek as they already have the port and the required lands.
They have 75% of the port and lands and, in Copper Fox, they have a partner who is not required to arrange any further funding. The next $57.5 million they spend is on their dime entirely, and they owe Copper Fox a further $40 million by the time the mine is built.
I think Teck likes to have a partner in most of their projects to share the costs and mitigate their finances so that they aren't on the hook for 100% of the funding while owning 75% of the project.