Teck's 2 Options 1. Buyout at 100% or 2. JV

Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

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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bryancj

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Teck's 2 Options 1. Buyout at 100% or 2. JV

posted on Dec 23, 2012 07:57AM

Isn't the Shaft Creek JV option agreement just a red herring?

Would Teck really want to JV with a Junior on such a huge project? with all the adjacent land its bought in it's own name.

Let's assume they would want to buy 100% of the Shaft Creek and rip up the JV agreement. Then doesn't this scenario imply the Copper fox own 100% for asset sale valuation purposes. Correct me if I am wrong but Teck has right of first refusal?

If they do wish to buy the whole this the the feasibilty is just a part of the story. There is an additional metal in the "Total Mineral Resource" they would have to value that is not reflected in the Feasibilty valuation such as:

Copper 5billion lbs , Gold 6m oz, silver 73m oz, Mol 297m lbs.

There are several ways you could value this on an acquiistion basis. You could use a multiple used from recent acqusitions to give you a rough estimate .

The Quellavello Copper Project has copper reserves of 7212 m tonnes of copper metal and 18% was sold to Mitsibuishi in 2012 for equivalent of between $777m to $888m. This project though has a higher grade.

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