Saturday, December 22, 2012

Copper Fox 60 Days to Joint Venture

I probably shouldn't write about this but the cat is out of the bag. It took a while but people are figuring out what it means for us to have control over where the option money goes.

Yes folks, we do decide where the $340-$350 million will be spent. Since we have 171M tonnes that needs to be converted so it can be included in the FS... you got it, that's where it will be spent. In addition, we had some stunning results in our last few rounds of drilling. $20 million there would open up a can of whoop ass. That's just 20 million! This would open up a new Resource requirement.

I talked to Elmer about slope issues in the silver rich zone. He said we'd need to define it because of where it was situated to determine what could be extracted. What we know is that it's open at depth but we'd need to know the concentration of the veinlets. I have the distinct impression that we'd be well served by proving that up.

There's enough money in the kitty at the 40% option to do 2 resources. This would put us in a position to sell to anyone. If we just had the 20% option that would complete 1 Resource Estimate and allow us to define the silver zone.

Enough said by me for now. I'll close with this. You all should know by now how a mine comes into being.

What Vette Said:

The whole point in this whole story, my 1st reason for ever buying, was to put Teck on the clock. This is what everybody wanted so bad. We all wanted Feasibility, even if it was $1 positive, to put Teck on the clock and force them to make an ownership decision..
Here we more waiting for the Feasibility.
The Inferred is there, Teck knows it. Some companies get bought out just on Inferred, they don't even have a pre-feasibility. Others get billions just for Potential with almost nothing proven (Andean)
Then we have the whole other half of the Paramount zone and it was still open at 800m depth. Then we have the Discovery zone.
We have the port, and we apparently have 1 of the 3 spots on the NTL grid, it's just not officially announced. They added it to our cost 200 million !!
Insiders own 65%
Teck can now move us up to Feasibility complete line on their corporate presentation.
The ball is in their court. We know they have a right to 75% for almost nothing, but they don't want all those clauses attached to the other 25% and sold out to another.
Yes Teck is getting this whole project for 1/4, they'll never walk away from that. They just need to give CUU insiders the right price and it's all theirs.....
That's the next move...60 days...

No comments:

Post a Comment