Re: Teck sells 30% stake in QB2
in response to
by
posted on
Dec 05, 2018 10:29PM
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%)
You're putting a lot of information out there that must have come from the office. None of it adds up.
"Teck has to let the Laird JV know it SC is indeed economical."
So what? The FS already said it was economical with a positive NPV but we let Teck skate without having to accept the FS results. Teck will not sanction a project(make a production decision) without a technical report, environmental and construction permits and the cash flow to fund a project. None of that exists now and won't for years.
"They don't have 16 Engineers and staff working on SC just to give them something to do."
You really believe that many people are working full time on a project that's been on Teck's back burner for 5 years now? If true there's no more excuses for any further delays.
"Elmer knows the value of SC he put in Tecks court to officially prove it and document it on their dime that's why Elmer never pushed Teck he knows in due time the numbers will justify and production decision or buyout."
First of all it's not on their dime, one quarter of the personnel costs that Teck spends on the work for the last 5 years is deducted from CUU's portion of the 60 million. It's written in the JV agreement. Secondly, placing our asset at the mercy of Teck's business plans and expecting them to prove up significant value is a very, very risky strategy. We need to find another buyer or we will have a choice of either accepting Teck's price or waiting another five years.
Right now something may happen with this Liard meeting, or not, and then the next years SC workplan is usually announced in February. If we don't see anything come out of either event other than more delays then it will be time to call this situation for what it really is and judge those responsible. Enough is enough.