Re: Optimization studies
in response to
by
posted on
Dec 01, 2014 02:51PM
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%)
$360 million was going to be used on exploration or pre production expenditures though. It didn't make sense to the JV. If money will be spent, it should be on building the mine.
It's not like they don't trust the work, a lot of the drills were done by Teck before and it's been years so the oxidization of the logs were not reliable.