Why?
in response to
by
posted on
May 10, 2013 09:39AM
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%)
With shadow removal and disposal costs they seem to have turned a negative production cost to a positive one but still have it as profitable." His last comment was: "Why do you think they dummied this down? Usually it's the other way around." - CG
Something to consider...
Cuu knows what its worth...all that was required to fullfill their contract was $1 PFS.
Cuu wants it all...delayed to a point in time that created the perfect storm....declining metals prices, turbulent markets, worldwide economic slowdown, marginal PFS manufactured
Teck knows what its worth...but Teck has to deal with the reality of the perfect storm
Cuu has a partner(s) in waiting....ask yourself what is worth more...selling 100% of a $50-100 billion mine or 25%....EE is no fool
Will this play out? I doubt it....Teck is too smart. We will find out within 30 days imo.
DC14