Re: JV Meeting
in response to
by
posted on
Oct 27, 2014 12:06PM
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 third option, if we insisted that they spend 4X was that they walk away. Yes, we would have owned the whole project but it would not have been worth anything. If Teck walked nobody else would have been interested, even with Teck involved nobody is knocking on our door or we would have sent out the FROO to get things started."'
Can you expliain why we would be worth nothing if teck walked? That doesn't make sense to me. Lets assume our financing and such with Teck and all the other properties is worth 10cents of our current share pirce and SC is worth the rest, 0.08. That is 25%, so we would be 4x that at 0.32 which is higher than current. Or for instance if you think we are worth a sale of 1.00/share now, explain why someone wouldn't pay that same amount, but for 100% of the property instead of 25%?