GREY:CATXF - Post by User
Comment by
groovin123on Dec 28, 2010 5:07pm
408 Views
Post# 17899586
RE: RE: RE: RE: Surprise Surprise
RE: RE: RE: RE: Surprise SurpriseWhen discussing this project with those connected to the deal awhile back they sought 2 possible outcomes - either sell the ENTIRE project back to Teck - or assume 100% ownership themselves and put it into production. (By Teck not exercising it's 20% and CCY spending the $20MIL or whatever it was to buy back the last 40%).
Obviously the "quick-bang" is for Teck to buy the entire thing back - but drill results so far leave to believe that so far, there would be no reason to. Why? Personally, I found the drill results to depth from the East Hill portion to be somewhat disappointing, I'm sure some will disagree, but....
Longer-term however, far more value would be realized if CCY bought the entire project out and put it into production themselves.
Either way, at this point, going strictly by pounds in the ground, this deal is cheap. I wonder why Endeavour bailed, that was their big claim-to-fame, Endeavour backing them....