Re: Timeline and delays
in response to
by
posted on
Feb 21, 2012 03:02PM
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%)
Yes, we're updating to include 2010 results I thought. But, not 2011 so the delay on those results are irrelevant to the Feasibility delay.
We don't need to make this into some sort of major-secret-behind-the-scenes plan being enacted. There are a lot of contractors involved in producing a Feasibility report and if they produce a document that doesn't satisfy for one reason or another then it has to be reworked by lots of different companies. For example the mine plan alone is a major undertaking when you take into consideration seismic concerns and slope wall calculations. Then if they add some more drill results that suggest needing to change the design it starts all over again. If CAPEX was different than expected they would ask for a report and a discussion and then maybe change tactics, move the conveyer belt, whatever, and start over.
On and on it goes until it is the best possible document because there is only one chance to deliver this to the market and to Teck. Maybe Elmer works in a more methodical way than others, who knows? Has he had success in the past? Yes. We are at the art, at the end of the science, part of attemtping to bring a junior exploration company to a mine. (Or at least to get sold to a miner.)