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%)

Free
Message: 120 days

I think Teck wants this project, but they don't want to spend all the money they have to pay CUU and build the mine. They will probably spend all 120 days to find the best solution for them. Their potential partners know Teck's situation and they're probably playing hard ball with them too. Everybody wants to get the most of it.

If they find a suitable partner they will buy us out, and if not, they might walk away. Why?
Any other option for Teck is not good for them because even if they back in 75% they still have to spend 3.5B to build the mine.
That's how I see the situation from the available information that we have right now. That's why even Elmer can't say anything about Teck's decision, nobody knows right now. But once we get close to 120 days I think things will become clear. Either Teck will find somebody or Elmer will say, well sorry but your time expired, we can't wait any longer.


Teck knows the value of this project (SC) so that's why they don't question the BSF, they like it but can they afford it? I am sure Teck knows the minimum price that Ernesto will accept, I am sure it's not low, so that's why our management is quiet and patient.
Because we waited so long, right now, I would like to see Teck walk away, I know it would take some time to find somebody else but man, we can at least double our money.

As I said once before, the way I see this it's just a matter of time, no other risks. All longs are already trained to wait, including me, I kind of got used to it :)

Share
New Message
Please login to post a reply