Re: Quadra FNX - bidding war?
in response to
by
posted on
Dec 07, 2011 01:02PM
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%)
IMHO I think the SC portion is a done deal, what else can be negotiated that hasn't been thoroughly gone over? Starter Pit economics, logistics, all done, IMO! They have been joined by the hip so long that if one goes to the bathroom the other is the first to hear the flush! I think they agreed on a SC price in the spring and that is why there was a run up in the SP but what wasn't agreed upon was the "other" deposits and that is where negotiations stalled and more information on these other pieces was needed before signing off. Hopefully this is something the upcoming BFS will address. Again IMHO Teck has viewed this as an all or none deal from the beginning...it will be an interesting 6 weeks ahead for the longs and hopefully a rewarding one as well.