Re: Optimization Results and Reporting Material Information Immediately
posted on
Oct 16, 2014 09:26PM
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%)
I wrote this before but I think it bears repeating.
I discovered today that a technical report can be filed by Copper Fox without an independent Qualified Person because the report is being prepared through a JV with a Producing Issuer. Teck is a Producing Issuer because they have revenues of both $30 million in the past year, and $90 million over the past three years.
Here's the clause from the 43-101 regulations:
(4) Despite subsection (1), a technical report required to be filed by an issuer
concerning a property which is or will be the subject of a joint venture with a
producing issuer is not required to be prepared by or under the supervision of an
independent qualified person, if the qualified person preparing or supervising the
preparation of the report relies on scientific and technical information prepared
by or under the supervision of a qualified person that is an employee or consultant
of the producing issuer.