The Pitfalls of Greed
in response to
by
posted on
Mar 03, 2021 10:56AM
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%)
They even brought back Silver... just for Golf!
LOL. I know you think its only 3-4% of revenues...but it is also optionality that may one day be worth a lot...just wait 'till Silver is trading at $100 vs $28. Then it becomes a healthy double digit percentage of NPV.
Its my ego that wants to see silver end up paying some bills. I was a vehement activist shareholder towards Elmer in 2011 urging him to delay the BFS so as to be able to include silver in the revenue streams, based on pending drilling results. Had no idea at the time of the impending domino effect of further delays that the requested BFS delay would end up causing. By the time the BFS got out, we missed the super-cycle and our opportunity to sell at a reasonable price...
We have a new super-cylce developing. Let's hope and pray history (short-sighted greed) doesn't repeat.