Re: BFS Timing
in response to
by
posted on
Jun 09, 2012 06:46PM
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%)
but I am expecting that they will try and negotiate an agreement with Copper Fox for the remaining shares before they tell the world that they will back in for any specific amount.
Remaining shares of what Prospekt? As of today, CUU owns 100% of SC. Teck has to earn its portion first before they can buy out the remaining percentage. I think alot of people are forgetting this little fact. You can't negotiate a deal where you are going to announce that we will back in for the full 75% and then also buy CUU's 25% when you haven't earned your 75% yet.