Re: OK SHOW ME THE MONEY
posted on
Nov 26, 2014 12:30PM
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%)
Carmax pays $6000 a year as a 'sponsorship', and the article mentioned nothing but positive info...
For example:
------------------------------
You start with:
“The Inferred Mineral Resource estimate totals 102.5 million tonnes at an average grade of 0.29% Cu, 0.010% Mo, and 0.08 g/t Au. The resources were estimated at a cut-off grade of 0.16% copper equivalent ("CuEq") and contain approximately 662 million pounds copper, 22 million pounds molybdenum, and 265,000 ounces gold.”
Then later states:
One word, POTENTIAL!
Let's get to that potential - how does 2 to 4 billion tonnes sound to you?
-----------------------------------
So how exactly do you get from .1 billion tonnes to 2 to 4 billion?
Sure, 2 - 4 billion sounds pretty good, but we have 0.1
Also, mineable grades are under 1/3 km deep overburden.
Open at depth - just like Schaft Creek - pit mining can't reach the best stuff.
Oh, and almost no cash left.
Don't forget, controlling share recently sold for a couple million.
If you think any part of this article holds water, please show me where?
Or do you want to cling to anything positive - regardless of what logic states?
I never commented on the Seeking Alpha article as there was enough already pulling it apart. I never said I thought it was an honest representation of things either. I think there was both positive and negative in the article as far as I remember anyways, but definately a negative slant.