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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: Re: Schaft Creek vs Cobre Panama: A Comparison

There's a growing risk that transfer pricing might become harder to pull off in less developed countries. This translates into higher taxes and often leads to confiscations. It's not a case of nationalized properties can't be run by the country that takes it away. It's a case of them not being able to get London prices or in most cases, not being able to sell at all outside their own country. So while we have them by the balls there's the disruptive nature of the confiscations or disruptive native labour actions. These things are priced into a buyout anywhere outside of developed nations. TVO had a nice show about Glencore. It was called Stealing Africa http://www.ibtimes.co.uk/articles/408563/20121126/stealing-africa-mining-zambia-poverty-glencore-mopani.htm (Not the best link)

Educate yourselves so you better understand why the prices over there do not reflect what happens over here.

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Nov 29, 2012 07:35AM
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MES
Nov 29, 2012 09:21AM
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