Re: Looks like it will have to be tomorrow
in response to
by
posted on
Mar 28, 2013 01:57PM
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%)
What if they already have spoken to another party (Chinese anyone?) who's ready and waiting, at our door, for Teck decision of Yay/Nay?
I don't think so. Elmer told me less than 2 months ago that he would have to hire a company to sell this project if Teck walked. He has also said the DD takes a very long time and costs a lot of money with the staff involved and that no other company is going to put in the time and money before they know what Teck is going to do.
It has taken Teck about 8 months approximately since they downloaded the feasibility information and they have had the inside information on this project for many years. Another company coming fresh to the project would need a very long time. It could take up to a year (or even more.)