Re: Teck opts out to increase interest in Fort Hills...
in response to
by
posted on
Sep 22, 2015 01:34PM
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%)
...you might hate the wait but EE is not going to give SC away. If Teck proves it up to the point we believe then they can bring in a partner/s
===============
Teck already owns 75%, they don't need to pay EE's price to proceed.
If the value was as breathtaking as proposed - they would be moving forward on it.
I think there is a misconception here that Teck would have to deal with our 25% before moving forward, but IMHO they don't.
If they wanted to move forward they would, and not getting our share for less than EE's price wouldn't prevent them from doing so.
75% of a project rivaling their own market cap is too good to not move on immediately.
I think the delays and lack of mention by Teck to the media and their shareholders (especially considering their need to shore up their SP/Debt rating) is more telling than some may want to believe?