AGM notesHere are a few quick points taken from the meeting today in Calgary
CUU is now ahead of Galore in that they are in Feasibility Study which should be complete in Q1 Galore is back in Preliminary Feasiblity.
Financing for completion of Feasibility Study will come from exercise of warrants and options, mainly Ernesto
Teck is involved now in reviewing the data being collected at a SrVP level for the Feasiblity Study, so there should be no major delay or problems with interpretation when the 120 day clock starts ticking for backin decision
CUU (Shaft) is a lower cost project to complete vs Galore,due to location and geography. Galore has slightly higher grades, however the Moly volumes at Shaft balance that out. This should mean Teck will be very interested in this project, possibly ahead of Galore.
The BC Transmission line is full speed ahead for completion in 2012(Ihave heard contract award for construction in September) Coupled with the Altagas run of river project there is enough power for Red Chris, Galore and Shaft
Why then does the stock remain so cheap? The mass market is waiting for Teck, and they could make their move sooner than the completion of the feasiblity