Re: The Contract
in response to
by
posted on
Feb 13, 2013 04:48PM
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%)
However, we'd be renegotiating the contract (which supercedes the 2002 agreement).
That is a given
It is in fact required under Paragraph 15
Actually we can chase our tails forever speculating
Teck is obligated to draw up JV terms withn 60 days of the BFS (whatever that means)
We are currently in limbo not knowing what is going on
I do worry that Teck has us in a very compromised position with a share price reflecting nothing but dirt
...and it is the basis of why I have commited to the extent I have that there is value here, that exceeds that of dirt
I need to feel that we have options if Teck offers us a 50% premium on the share price
And I would not be surprised if that is exactly what happens
And I am out of trust if these clowns can't capitalize on their own contract terms