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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: NPV / IRR of SC
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I think you are mixing up some USD and CAD figures.  Might be easier to remain in USD.  From the previous update we had, I'd remain with 5 years to build the mine.  If the availability is 92%, I suppose we should also consider this.

Let's assume a production of:

  • 335Mlbs of CuEq LOM
  • 400Mlbs of CuEq (Y1 to 7)
  • 300M lbs of CuEq (Y8 to 14)

Calculations:

  • Revenues (Y1 to 7): 400M x 3.15 =  1260M
  • Processing: 133ktpd x 365 x 8.66 x 92% = 387M
  • Sustaining: (755M / (350Mlbs x 21 years)) x 350M = 35M
  • Cash flow: US$838 per year
  • Revenues (Y8 to 21): 300M x 3.15 =  945M
  • Processing: 133ktpd x 365 x 8.66 x 92% = 387M
  • Sustaining: (755M / (350Mlbs x 21 years)) x 350M = 35M
  • Cash flow: US$523 per year

Gives me roughly a pre-tax NPV (8%) around US$2.5B and 30% IRR, which I feel is conservative.

IMO.

MoneyK

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