News early January
posted on
Dec 20, 2022 06:44AM
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%)
for those expecting a news release this year, see Elmer's response from December 7th below. So there will be a news release at the beginning of January. Other miners who have simultaneously run a drill program have already communicated the results of this program months ago. The reason that this is taking so long at CF/Teck may be due to buy-out negotiations concerning SC. Sometime at the end of November, golfyeti already explained in a post why a buyout may be accelerated (before the results of the metallurgical analysis are known). I agree with his arguments. In addition, I am also surprised that Jason has to focus mainly on promoting VD and finding investors for VD. SC does not have his attention, possibly because the sale to Teck is a certainty? The question is whether VD will not be further developed, but will perhaps be sold sooner than previously expected? I have the impression that there are many things going on around SC and VD, but one has to keep hoping.
So I hope the early January news release announces SC's buyout, if not I do expect the drill results to give a (small) push to the current low sp. let's hope that our dreams of selling SC will finally come true
Thoughts????
Mail from Elmer
"My comment as to mid-November was based on the lab indicating delivery of some of the results by that time. As is quite typical, the service industry (in my experience) provides an indication and then deliver results at a later date. A part of the delay could be that the samples from the drilling were subjected to a special preparation in order to use the sample rejects for metallurgical test work purposes.
My understanding is that Teck have received some results and these results are undergoing QA/QC review.
We have not received the analytical data base.
I do not think Teck would have any issues in regards to Copper Fox making a news release after it receives the analytical data base from Teck. Teck will review the draft NR in detail. Once Copper Fox and Teck are in agreement to the content of the news release, the draft is then forwarded to IIROC for their review as well.
After comments (if any) from IIROC are incorporated into the news release, it is usually issued at 6:00 am ET the next day.
Given that I will be away for the next few day and time of year, most likely would see news in early January.
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