Re: More to my post
posted on
Jun 12, 2015 04:05AM
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%)
Isn't that interesting, eh? 8 cents to 1.58 is 20 times your money from the market price
8 cents was not the market price when the Terrane Metals/TCM deal was announced. The market price of Terrane Metals was $1.17 at close prior to the deal being announced. The deal was for 90 cents in cash and .052 of a TCM share for each Terrane share. A value of $1.41 per Terrane share, which is a premium of 21%. Also, this was in 2010 when things in the mining industry were much rosier than they are now.