Re: JV Meeting
in response to
by
posted on
Oct 27, 2014 05:07PM
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%)
When i talked to Elmer, the end game was always to sell the project. That's why he said in the shareholder's letter that he wants to look into monetizing SC in 2014.
That being said, IMO, if we come operating partner in SC, I won't not complain as it would maximize the full value for our shares.
Question is do you think Teck wants to have us around for 25%? Does it make business sense for them to operate 100% of the work, and receive 75% of the profits?