comments on previous posts.All the numbers quoted here looks right to me, and they are shaft
creek numbers, not galore creek numbers. CUU plans to mine around
58,000 t/day. The fact that 145000 oz/yr times 15yrs is 2,175,000 oz
just means that after 15 years most of the metal will still be left in
the ground. This does not indicate an error. These are really shaft
creek numbers, and CUU is undervalued. 30$ is too much right now, but
we should be and will probably go much higher. The numbers quoted in
the previous posts are actually only for a fraction of the whole
deposit. There is a historical resource estimate of 3.5 billion
tonnes. The 8 million oz gold, 9 billion pounds copper etc is just
for 1.5 billion tonnes. The mining plan is only for around 300 million
tonnes. That is why the numbers don't add up. All this shows that even
by mining a fraction of the deposit the cash flow will be awesome.
Will Teck back in? Only their own management and board
know. Financially it would be advantageous for Teck to do it. However,
backing in will be a public admission of the error it was to sell
shaft creek in the first place. They will probably avoid that, so CUU
might get all of shaft creek for themselves. Later, CUU will be
acquired by a major, so the actual mining will not be done by us. The
precise tonnage, mine life etc can be changed later. What CUU is doing
now is preparing an early plan for open pit mining, solving
environmental problems, getting permits, securing an access road
etc. This will add incredible value to the project which can then be
acquired by someone else at a high share price. I would hope and
expect for around 10 CAD in 3 years time or maybe a bit later.
Cheers.