Re: Share swap
in response to
by
posted on
Aug 28, 2019 09:21PM
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%)
We're nowhere near to being next on the list according to Teck. Two large projects in the medium term window are QB3 and Nueva Union. Teck, like all large resource companies, match their project development to their projected cash flow and project economics. They needed Fort Hills to start production and generate cash flow to allow the sanction of QB2. The process keeps repeating. Even Galore is getting a lot of attention compared to SC. They plan to start the PFS in late 2019 or early 2020. They also plan to spend $ 24 to $ 40 million annually at Galore over the next 3-4 years with their partner Newmont. Teck's portion of spend this year at Galore is estimated to be $ 19 million. Compare that to the $ 2 million couch change they plan to spend at SC this year.