Re: "Updated" Resource Estimate
in response to
by
posted on
Feb 08, 2018 01:05PM
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%)
It's just speculation that could explain why Elmer and Teck are dragging this process out. If the desktop work produces good enough economics then they will probably proceed with a formal technical report. We don't have a timeline to complete the desktop studies and won't believe one if given. Remember that we cancelled our position in the power line queue and we cancelled the EA process. We are years away from a production decision. So what are E and E waiting for to monetize the SC asset if not for some other strategy to unfold? It's not a slam dunk that the project economics will improve enough to move us up Teck's priority list.