Re: JV Meeting
in response to
by
posted on
Oct 25, 2014 11:36PM
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%)
THe NR was very vague....sure they might have found a new zone....but from what I am reading...seems like they will re-do the FS.
It does look like they are doing a very thorough review.
I have read that it is quite common to re-log the cores. This is a complex thing apparently that helps them set the order for the block model. That implies they will re-do the mine pit plan. The technical drills for the slope also implies a new design.
There were sort of a lot of words in the NR, but not so many numbers and I had been expecting numbers, especially with the delay. Maybe they just couldn't delay long enough and put it off for the December meeting.