Re: News! Very interesting
in response to
by
posted on
May 12, 2018 12:56AM
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%)
"4. It's part of the negotiations to get a better price. I can't believe Teck will appreciate it if Shaft creek comes into the hands of another major without the approval of Teck. "
I thought about this and don't see how or why any other company would benifit from buying our minority share in Schaft Creek without the approval of Teck. Since CUU signed that deal Teck is the majority shareholder so calls the shots on when, where and how. If Teck announced they are going to build a mine starting tomorrow then our share is worth something. How much is our minority share worth without that decision? Or even worse, how much is our minority share worth if Teck decides not to go ahead at this time? How do you put pressure on Teck when our CEO signed away on Salazar, no timeline, no bottom line and no promise from Teck to do anything? Most here know that I'm not much of an Elmer Stewart fan but I still can't figure out how the agreement signed benifits any CUU shareholder.