Re: possible buyout scenario.
posted on
Jun 24, 2020 10:52PM
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%)
Teck has no obligation to buy us out and can choose their own price on a take or leave it basis. Why do you think our market value is so low? Our market cap is still below the value in the JV deal with nothing for the metal. The market doesn't believe Elmer can make a deal. He needs to do it this year with the benefit of the new numbers or else we'll trade at liquidation value. In the end you only get what you negotiate, not what necessarily exists on paper. Elmer has not sold any properties and we have no indication he is in a position to do it. Time for him to show his cards.