Re: Zijin buying stakes in Papua New Guinea/Congo Mines

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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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Linsickel

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Re: Zijin buying stakes in Papua New Guinea/Congo Mines

in response to

Re: Zijin buying stakes in Papua New Guinea/Congo Mines

CanadaG

posted on May 27, 2015 09:10AM

Once again dude; Teck did not "purchase" 75%, they always owned the project and CUU had 100% "working" interest. CUU earned 25% of the project with 90 million in spending and recieved ~24 million (net 66 million) with potential to recieve another 40 million. (If all recieved we will have earned 25% for ~26 million)