Re: TCRC
in response to
by
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: Re: TCRC
I don't think you can compare it like that.
The 13.5% was probably sold based on the 2016 FS. Per my calculation, it was around 100% of the after-tax NAV (8%). I don't think that minority interest had a carried-interest to production, so they probably would have needed to come up with over $600M US to finance their share of the project.
Sumitomo did pay more, above 100% of the revised after-NAV (8%), but it did come with a certain carried-interest to production.
MoneyK
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