Re: "Updated" Resource Estimate
in response to
by
posted on
Feb 06, 2018 08:49PM
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%)
Extracts from response I received.
- No more portions of the 2013 Feasibility study to be looked at by Teck. Now the SCJV can move to looking at different options to move project forward. That is the objective of 2018 work. The project need to demonstrate that it warrants further investment.
- The 2017 work was a remodel of the 2012 resource estimate. The waste referred to was contain within the reserve pit developed for the 2013 feasibility study. Pits used to constrain resources are very different than pits used to constrain resources. The 2018 most likely will address this. (possibly a typo above)
- The SCJV needs to develop a scenario that demonstrates to Teck that it should invest their capital in this project. The key will be to come up with an scenario that demonstrates to Teck, that Schaft Creek is where they should be putting their capital. The work planned for 2018 is not of a technical nature. The work is focused on what scenario is the best for the project and does that scenario warrant further investment.
My personnal summary from questions I asked:
- At this point, he's not sure if the scenarios will be shared with shareholders and the time required to complete them. Teck is in the driver seat.
My personnal comment from another exchange I had with Elmer previously:
It's my understanding that Teck needs to provide an update to Liard Shareholders before year end. Therefore, I don't expect anything related to the above "soon".
MoneyK