Re: Too many are under water here
in response to
by
posted on
Sep 23, 2012 12:23PM
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%)
Current analysis by independant geologist say they have 7 million ounces. No one denies that the report was not completed. Many of us are still questioning why they didn't complete it. The BS securities is not challenging the fact that the gold is there. They are not happy about the incompleteness and some of the wording. My own estimates are for a much lower economic number of ounces.
For those reading this. Once again, Nadir blurrs the facts. In 2000 the company over stated the numbers and got slapped. The mill got approved and production is up and running. No one knows why they did a repeat not even people close to the source. i can't even dream up a reason for it. Isn't 7 million ounces enough to wow the crowd? Ya, it sure is. For me, I evaluated it as 3 million ounces they could mine and that would be stellar. The mill output is not gigantic nor can it be. Permitting limits how much can be mined each year. When they trade again I expect a solid rise. They have good books and a decent resource.
You can see from my comments that I'm completely frank about it. What he doesn't show is that I called for a sell just days before the halt. I also told friends that we didn't manage to get all of our shares out because we move slow as trading was by commitee on this one. Am I concerned about the remaining 800 shares? LOL, no, not in the least.