Re: Teck sells another asset
posted on
Oct 08, 2015 11:56AM
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%)
So we know now where a cemented pessimist like yourself stands on this risk/reward proposition.
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No, not a pessimist - conservative when it comes to risk/reward. Actually a pretty conservative guy all around. I don't carry any debt and keep rainy day reserves for unforeseen circumstances. Each to their own as you say.
I would never borrow money to invest, especially after watching my large (for my modest means) investment in CUU dwindle to 20% of its value. I assume you are of modest means as well seeing you needed to borrow against your home to buy the shares.
Way too risky for me, but I really do hope it works out for you.
Seeing that you are a respected poster here, I hope your posts touting this method of investment don't encourage other members here to try such a scheme...
Only $600 and you could make 1.6 million - it sounds so tantalizing?
I caution anyone to talk to a financial advisor before making such a move.
Trust a pro, not an annoymous poster before putting your house up as collateral for any investment - no matter how sure a thing it seems...