Laird shares reminder
in response to
by
posted on
Oct 27, 2014 08:23PM
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%)
Just a reminder folks the laird shares that we would of had under the old agreement are still ours. Being held in trust doesn't means we don't own them.
I think everyone missed one clause in the old agreement. The JV agreement would superseded the old deal. I think it was kind of a loophole. Teck just had to say we are backing in and make the deal that was made. I don't think we really had much of a chance to walk away with 100% unless they walked.
Would walking away have been better for us we will never know. But having 100% of a property we could never finance into a mine, compared to 25% of a possible mine which will be paid for. Is like playing wheel of fish. Do you keep your red snapper or go for what's in the box?