Re: Teck opts out to increase interest in Fort Hills...
in response to
by
posted on
Sep 22, 2015 02:37PM
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%)
I respectfully disagree. I do not think that Teck can legally proceed with anything until they have made a production decision, and have come to an agreement with CUU. I assume that by "move forward" you mean build a mine, or pull metal out of the ground.
We also need an EA to be performed and get provincial approval before Teck can go mining. Teck cannot just bulldoze forward and do whatever they want without due dilligence and following the law.
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I would consider moving forward any of the following:
- stating that SC is a great property and add to their development timeline
- release of positive optimization results
- state intention to file EA with the province
- road building
Really, anything from Teck signalling we are leaving this optomizing stage with some kind of urgency.