Re: Article on Schaft Creek...
in response to
by
posted on
Sep 30, 2015 03:24PM
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%)
Well of course they have to do that, but that isn't really what I meant.
It would more have to do with the dividend. It seems like a weird thing to do especially as everyone knew the market was bad (although many didn't think it would continue this way or for this length) and really says "hey, you guys can have some of this because we honestly don't need it. We ran the numbers and factored in all the exploration and purchases on Carmax we want to go through in the next 2-3 year period before the next phase of SC comes along and we can then continue with all these other great properties we have." Of course some of that is just how I feel, but one can easily agree how it doesn't all make sense for the Jr mining explorer to be GIVING away cash.
Although maybe now they are sweating some as things are taking longer than expected? No one knows for sure. Method to the madness or just madness, only time can tell.