RE: RE: RE: Copper JuniorsMy position on the CUU shaft deposit has now changed, this deal stinks. I could understand the buyer was injecting any real money into this deal, but 5 M ?? come on, that wont even cover the accts payable it will be back underwater in a few months.
basically cuu shareholders who owned before today got wiped out, and one guy now controls and owns the majority of this company. there was only about 120 Million shares outstanding, and now he has shares and options totallying about 180 MLN, so he has a solid controlling share at ~ 60%. if you thought you were buying that peice of shaft (the 25% that teck wont acquire should the feas go positive), for 7 cents, by rights now you effectively bought for 7 * 300 / 120 = about 19 cents, not so much of a bargain / slam dunk for a deposit that has yet to be proven up.
these are the kind of deals teck could have had if they hadnt F'd up so bad.