Re: Whistler Conference - Teck
in response to
by
posted on
Jan 22, 2015 01:47PM
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%)
Then besides that there is also (apologies the correct name is blanking in my head) first rights offer thing, so even if someone tried Teck can step in and take it anyway.
Just to expand on something here. Someone could buy out CUU completely and therefore own the JV agreement with Teck. That way they could work around the First Right of Offer and simply refuse to ever sell their share.
Of course that is getting to be a more expensive option now that we have the RE on VD showing 1.44 billion pounds of copper.
I agree though that I doubt anyone is going to buy either SC or CUU at this point without the results of the optimization study.