Re: Another week- no news
in response to
by
posted on
Aug 16, 2021 09:18AM
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%)
In that way I can finally see why Teck has listed it last among their satellite projects. It is the least proven up of their projects. I find it disappointing that the joint venture has done no new drilling in their 10 years to prove it up.
Teck doesn't need to prove it up to 43-101 standards to know that it is all there, and proving it up only increases the price tag on the 25% they don't own but want to buy.
I wish Ernesto would call out Teck on their "no venture to surface value and starve the jr" strategy as the SCJV operator and announce a lawsuit. A judge would not view the operator's actions/inaction for nearly a decade as "operating in good faith". JMHO