RE: More Buying Coming--SchaefferMarket letter tipster.
O.K.
Check it out. Pending drill results are confirmation only. Don't expect any increase in tonnage or grades. These have been known and accepted for twenty years. The only reason CUU are having to re-drill is the regulatory environment which insists that all older work be reconfirmed, no matter which highly qualified (Teck) company did the earlier work. Blame BRE-EX.
The central core of 600 to 900 million T. of .5% cu. equiv't.is marginal when waste to ore ratios are considered, especially at that lattitude. And recoveries of the various metals reduce the returns.
Oh, and the part conveniently obscured in the promotional bumpff is that, after CUU beating their brains out for the next 4 to 8 years, Teck can then back in for a 75% interest, IF Copper Fox produces a positive bankable feasibility study.
But I ask you, how difficult would it be for Teck to arrange the financing, which they must do in order to gain the 75% interest, if they have a bankable study in hand?
No, the way to play this one is on a seasonal basis, selling in AUG- SEPT each year, recapturing your position in early DEC. and feeding it out each Spring in the inevitable euphoria usually experienced at that time.
All IMHO, of course.
-Jimmy Mac