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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: Re: News early January
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The Quintette proceeds are only $3.3 million per month over the next 36 months.  What seems more plausibly connected to a SC buy out decision, and more in line from a size standpoint, is their Fort Hills stake sale for $1,000,000,000 CAD which closes in the next couple of months.   That's a little light of what I want for our stake but at this point I'll take it.

I'm virtually certain that Teck's decision to fund Fort Hills was one chosen over funding Schaft Creek.  I am hoping that, given that they lost more money on Fort Hills than the total capex of Schaft Creek that Teck is now "righting a wrong" with where the proceeds of Fort Hills is going.

Wishing you all the best of luck and great prosperity in 2023!


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Jan 02, 2023 02:42PM
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