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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: Teck sells 30% stake in QB2
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Dec 04, 2018 06:28AM
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Dec 05, 2018 07:14AM
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Dec 06, 2018 07:36AM
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Dec 06, 2018 12:32PM

I truely think that QB2 was Teck's #1 priority.  Due to the severe situation with commodities in the last years, everything got delayed, including us.  Now that QB2 is out of the way, I think we will get more attention.  I'm not sure what else Copper Fox could have done differently. 

Providing a better timeline?  Since nobody can predict the market in 1 week, this would be difficult.

Forcing Teck's hand? Not sure how and what would have been the benefit for them and for us.

30% of QB2 sold for 63% of the total NPV (8%).  Also, Capstone just confirmed they are moving ahead with another mine and looking for a partner.  The Copper Market is heating up and Teck needs to put their money somewhere.  I'm sure it's better for them to develop Shaft Creek instead of putting 400M per year to buy back shares.

MoneyK

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Dec 06, 2018 02:10PM
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