Re: Both Sides of the Picture
in response to
by
posted on
Feb 11, 2012 02:59PM
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%)
See it this way..
TECK: 75% of the mine and 0% of the control
CUU: 25% of the mine and 100% of the control
And as Teck spends money to earn minimum 40% and thus control, each dollar they spend keeps bringing unlocks value and in effect the value of our 25% up. (Not in Tecks interest)
They will just take us out.