Re: Whatever happened to CUUVette?
posted on
Oct 05, 2014 10:20AM
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%)
I agree with all of your points. I also agree that vette painted an overly rosy picture of this stock. As far as the -32 cents copper goes though, I blame management. Elmer Stewart was also, in my opinion, overly positive about the numbers. I believe CanadaGrant when he says he discussed with Elmer who said, "you're not going to believe the numbers" and similar sentiment. One of my good friends, who also owns this stock called Elmer several times as well, and I think similar things were said. Many of us were caught off guard when the BFS came out and a negative cost scenario turned into one where much of our resource was turned into waste rock and the numbers had no semblance of the resource that had been promoted by the management. I can't recall all of vette's comments about personal communication, but in general remember many of his posts being based on public information posted by the company. Based on that fact, I'm a lot more pissed off at the management of the company, as they have a responsibility to protect shareholders, and what we got, wasn't what we were sold before the BFS came out.
I agree that Chappy is a much missed contributor to this board. Thankfully there are still several others with a good understanding of geology and mining, who have made clear that they're sticking with this stock and still believe in it's potential. I think many of us got caught with our pants down when the resource bubble burst. I don't think there are many posters on this board who imagined this would drag on this long, but honestly still believe that if you're invested in metals, and this company, fortune will favor the patient.