Re: ..Who is selling? Question
in response to
by
posted on
Jan 09, 2013 10:31AM
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%)
Especially since the BFS says five years pre-production. My guess is we'll get a new JV agreement with Teck that modifies some of the terms in the agreement linked below. It is hard to say what gets changed at this point but it wouldn't be the first time this has happened (e.g. the initial agreement says positive at 12% IRR). With a weak BFS the importance of a Teck partnership going forward becomes much more important to CUU imo.