Re: News! Very interesting
in response to
by
posted on
May 12, 2018 02:30PM
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%)
Teck has a Right of First Offer, which is viewed as more favourable to CopperFox than a ROFR. Right now there's little point in finding a buyer until Teck announces a development plan for SC. It looks like Elmer is expecting that now by hiring an IR firm. He's got to find a way to get the share price moving upward. At 10 cents a share it's a poor bargaining position.