Re: New buy out / back in pool
in response to
by
posted on
Mar 17, 2013 10:10PM
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%)
100% buy out on May 13 @$1.75 (cash & teck shares) for the Schaft Creek area. And there will be a new agreement with Tech for CUU2 to drill and prove up some part of the promising land. In this way Tech who is risk adverse doesn't have to pay for the unknown.
I'm hoping for more but I'm keeping my expectations lower. My investment with CUU has always been because I thought the downside risk was low while the upside potential was quite large but I couldn't really define the amount.