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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%)

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Message: Detour Gold

I know we discussed this already but I'm trying to understand the comparable. There is an article in the Globe today about the mine opening: "It will also be among the lowest-grade gold mines to come on-stream in recent years, mining just one gram per tonne of ore milled."

They have a total of 15.6 million ounces of gold with a cutoff of .5 g/t. They have a market cap of $3.06 billion currently and will be in production shortly. How does this set a price for our gold, let alone the other metals? Can we use this as a comparison? They've got cash costs of $710 per ounce.

Doesn't this leave our project looking so much better?

--http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/detour-gold-set-to-open-canadas-biggest-gold-mine/article4530583/

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Sep 10, 2012 12:29AM
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