One more year, PEA recommendations, 'Time's up' for Teck / Newmont
posted on
Oct 17, 2022 04:05PM
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%)
If one subscribes to the theory that GC and SC should jointly share infrastructure, this one more year might, and I stress might, bring us some attention. Here are three things that offer me hope...
The PFS on Galore is suspiciously late. The plan was to get a (new) PFS done on Galore in three to four years, i.e. by mid-2021 to mid-2022. Nothing yet. Newmont must be getting antsy to get going, no? What's the hold up?
The Schaft Creek PEA includes a recommendation section that apparently no one here has read. One of the recommendations is to explore the economic / logistical advantages of shared infrastructure between Schaft Creek and Galore.
New 'no-nonsense' leadership at Teck will not want to play games for too long with much bigger brother Newmont. Newmont can pay for half of SC out of its petty cash and must be getting impatient. Teck's new mining warhorses at the helm will not pussyfoot around, imo.
Also, a smart major would make a move on a project countercyclically before the next up-cycle..
Maybe, just maybe, the stars are aligning for next year...
JMHO