Re: Optimization studies
in response to
by
posted on
Nov 30, 2014 06:26PM
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%)
Lynn knows they have to drill again she was just reiterating that Teck could make a decision at any time for the purchase of our 25% share in CF.
We all know Teck could make a decision at any time to buy us out, but why would they? Even if they already knew they wanted to buy us out eventually why would they commit to spending that much money now when they are so far away from being able to make this project pay?
They may, or may not, need to do another FS, a new AIR, apply for the EA, more drilling next year, complete the optimization studies, maybe build the road, and so on. There doesn't seem to be a compelling reason yet to force their hand.