Re: News! Very interesting
in response to
by
posted on
May 12, 2018 01:39PM
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%)
As far as i know, nothing can stop a major from buying the 25% on SC and CF is, as far as i know, free to sell their 25%. So, it might be interesting, if they have the patience and money, to buy or only the 25% of SC or the 100% of CF. CF will like this, but Teck won't like it, cause they rather choose their own partner. So, in my opinion, finding a major who might be interested in the 25% or the 100% of CF will put pressure on Teck and so interesting for the negotiations.
Teck has Right of First Refusal - so until copper fox excercises this - I don't think we can't just sell to anyone - we have to put the $$$$'s on SC - Teck will then have to decide if they will bite....if not, then we can go to market.....i think this is how it works!