Re: Whatever happened to ......
posted on
Oct 06, 2014 09:05PM
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%)
you're right they should have drilled more. But, the biggest mistake made was always using EE for funding. Should have gone to the market for money, instead we turned our back on the market makers. They would never have let the SP get to this point, volume would be much higher, generated retail interest etc. They ignored the big boys, now they ignore us. EE was the golden goose, and our curse. If and when he tires of this he can take a low ball offer from fatigue and we can do nothing about it. Allowing him majority share position is not smart.
Of course he's a shrewd negotiatior etc. but even at these prices he's millions in the cash.
I see this story getting longer every day, Teck at a 52 week low with little catalyst in sight until Fort Hills is brought on line. Don't see them dropping over a $1B any time soon. Gladly take some shares though at these prices.