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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%)

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Message: Re: why?
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Jul 28, 2018 01:11AM
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Jul 28, 2018 08:25AM

Buyers do a lot of due diligence. If I was buyer here's a few issues i would need some answers.

1) Teck has never booked any resources or reserves at SC yet CUU continues to keep their reserve bookings. Why?

2) CUU has the following nasty disclaimer on their reserve table in bold font " . There is no assurance that the economic analysis, reserves and resources and conclusions set out in the 2013 Technical Report will be realized. " Novagold does not have a similar warning on their reserves booking. The remodeling work preserved the resource number but there's uncertainty on the reserve booking until the desktop studies are completed and the possibility of a technical report(FS). 

These may not be big issues but a buyer will want some reassurances. When Newmont bought 50% of Galore they purchased 2P copper and gold reserves that become an asset on their balance sheet. We have to hope Elmer is in the same position with the SC numbers.

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Jul 28, 2018 08:33PM
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Jul 28, 2018 11:48PM
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