Re: Teck shares now back to where they started prior to Glencore offer: Pressure is on
posted on
Oct 27, 2023 10:43AM
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%)
Didn't they have a final payment to make on EH?
while foxxie may be right about the reason for such a small pp, history has shown that management has done this for almost all pp. Everything is a stopgap measure for them. They have no intention of actually developing their properties, just maintainance until copper is so expensive that someone throws money at them for greenfield projects. The next super cycle for copper has been projected for the last 5 years but the timeline keeps getting longer. SC might be sold because EE is getting tired of waiting for a payday but I also think his greed could get the better of him and wait another year or two before a sale. JMO.