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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: BFS/Teck approval
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BFS
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Dec 03, 2011 07:42PM

I can't see a company as big as Teck, (which is watched by the entire mining world) release the BFS and sit on it for 120 days (possible not probable) while CUU proves up more drill holes. The late 3rd & 4th drills deployed will apply pressure to make a deal now. Regardless if they even hit something big. The low grade 'district' of copper is going to be mined for generations, we know that.

Teck has CIC salivating in their corner for a deposit this size. Based on all the comments regarding insider buying: the BFS is probably in. Review of the data and more drill holes are to be included as each hole trickles in during NOV/DEC. Now is the time Ernesto negotiates for the proven & potential beyond the BFS and use the other zones north of Schaft as leverage. The acquisition of all those adjacent properties probably improved the economics of the project greatly. But if a spinco comes out of this deal, it will take years to prove up. In comes Elmer to outline the benefits of buying out CUU entirely. Otherwise we talk to another Biggie to help us prove the remaining land by drilling the Shizzle out of it (Red Chris style).

As more results are released, this invites outsiders such as Xstrata, Freeport to come in and play devils advocate. I cant see Teck let some situation like this develop in their own backyard.

And since the great anticipation of the Silver results letting us down in AUG/SEP. The SILVER must be in and factored into the BFS... this is big. If a deal is to be made really soon, it should come out by Dec 23rd or Anytime in Jan.... the Jeopardy music continues to play....


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