Re: Semi-OT: INK Research on Teck and Mining Overview
in response to
by
posted on
Sep 26, 2014 03:01PM
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%)
"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."
Can you explain how they could own 75% of the port? The JV has the port secured and Teck is in control of the JV. Therefore, Teck controls the port. Zero need to buy out CUU because of the port access. Same goes for the land.