Re: Moose Mountain...again Accounting of PP funds in past 10 months...
posted on
Sep 23, 2012 12:37AM
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%)
It's an interesting idea but it's not possible for a couple of reasons. First of all, all of our financial data is published quarterly. They would not be able to hide a large purchase like Galore without getting into legal trouble. Second of all, the Galore project is worth far more than $20M. It's likely worth hundreds of millions.
That being said, it is possible for Copper Fox to integrate some components of Galore Creek into the Schaft Creek feasibility study. Perhaps Teck has requested this. I don't know what type of collaboration would be possible, but there is a small chance that Teck has asked us to plan something for years down the road.