Re: Copper Fox Updates Permitting Process on Van Dyke Copper Deposit
posted on
Sep 25, 2017 01:00PM
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%)
I don't see that owning shares and being critical of management decisions as a conflict. I took a prospectors course at the local college last fall. The instructor gave a talk about what to do if we ever discover a deposit. He said always get money up front. So many deals are signed where the explorer only gets paid when the mining company puts the deposit into production. Which he said rarely happens in their lifetime. So many companies just lock up deposits for future consideration.
I am not saying we are in that situation but it has been a long time since the BFS was wheeled over to Teck. I am not blaming Elmer. I think we deserve to know a lot more than we do. Like what Teck plans to do with this deposit. We are partners in this venture after all. We took all the risk. We unveiled a lot of wealth for Teck. What would they have paid us if we had found that the mine site was a dud?
The info the JV finds is kept from us. Is this so Teck won't have competition for our shares?