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%)
Message: From Teck IR
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Hi xxxx,
No decisions have been made on how to realize value on any of the Project Satellite assets, for example to sell or develop them. We may take a different path on each of the five assets.
We expect to complete the Feasibility Study on Zafranal and submit the SEIA in Q2 2019. We expect to complete the Pre-Feasibility Study on San Nicolas and submit the SEIA in the second half of 2019.
The current economics of Schaft Creek are not yet competitive with our other Project Satellite assets. The desktop studies we have recently completed on behalf of the Schaft Creek Joint Venture are not focused on just throughout, rather on resource modeling, grade optimization, mine planning, capital cost reductions and operating cost improvements. We have chosen to maintain throughout at 130ktpd in the next stage of work to maximize use of other details from the 2013 Feasibility Study.
The 2019 work plan is to further validate the desktop study findings which, if positive, will allow us to devote more resources to advancing Schaft Creek in a similar manner to the other Satellite assets.
Best regards,
Lori
From: xxxx
To: Rozali Lori VANM <[email protected]>
Subject: Re: Recent investor presentation
[External email]
hi Lori, at what stages are Zafranal and San Nicolas compared to Schaft Creek? What has to be completed on the Schaft Creek to be able to sell or find a partner as Don suggested would happen with projects satellites in 2019 on the investor call recently?
With all the work done with optimization and desktop studies in 2018 how did the JV get back to a 130tpd mine which is what Copper Fox determined 6 years ago. It took 6 years for Teck to confirm what CF already did long ago? What is planned for this year and to what goal, where is this going?
As a shareholder of both companies it is very frustrating as it is very apparent Teck goes out of it's way to downplay Schaft Creek. I find it very difficult to believe you had 15 seconds on slides for the other project satellites but couldn't find the time to talk about SC. Why did you leave out SC, time could not have been the issue?
thanks.
xxxx
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