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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%)

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Message: Re: News
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Oct 28, 2014 07:58AM
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Oct 28, 2014 03:50PM

I guess they decided they didn't need it. My guess, without doing much research, is that these holes are meant for the newer claims? It makes better sense to me to press ahead with the 43-101 on the historical mine.

I read a general sort of essay on the method of extraction planned at Van Dyke and it said the average cost was about $1 per pound of copper. If that's true then we can estimate the capex at $1.2B and the return at about 3X that amount? That looks like a pretty good return on investment.

That $1 cost seems high as well when you consider what goes into Schaft Creek and how our costs are about that rate now as well.

I don't know where they are with Sombrero Butte but I will say that when an exploration company only comes out with good drill results and good information I question everything. The lack of activity at Sombrero gives me more confidence in the results they are talking about at Van Dyke. Also, it can sit there doing nothing until either SC or VD is monetized.

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