Re: Semi-OT: INK Research on Teck and Mining Overview
in response to
by
posted on
Sep 29, 2014 11:09AM
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%)
You wrote: 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"
That is exactly WHY Teck would want to buy out Copper Fox. The Fox isn't such a company that will help Teck with the finances and mitigate the risk. In fact with having us as a partner, Teck would increase their risk because they not only need to come up with financing for their 75% but our 25%.
Some will complain about the new agreement because the old one was better - but I think in the long term, the new one is much better for us.