RE:RE:More of the SAME!!! Hi Sixtyfirstsixty!!! I hope you are havin the BEST day!!!!
Why? Simple. MONEY!!!! 1st Teck set up new SCJV with only iddy biddy money. $20 millions for Copper fox metals inc to sign away. Only promise of like 60 million IF and only IF Teck makes productioun decision. Copper fox metals sunk like $89 million into Schaft Creek FS and stuff. Bargain.
Also JV has no real spending requirments. LIke $500k a year. Copper fox metals spent more on anual bases then Teck has under JV. No heavy spending money requirred.
AND there is ZERO time line. SCJV could go on for decades an decades till economics shiny up enough to RISK building out Schaft Creek which is only barely profitable BEFORE TAX under the 2013 FS.
Then ask WHY would Teck NOT take on SCJV. And WHY they would spend money on SCJV vrs other Teck projects on the go go go to barely make money at Schaft Creek. It costs Teck virtuallily nothing. There is almost ZERO commitment unless they want to build and there is like LOTS of better return elsewhere.
Thatz why you got the cancledl Schaft Creek enviroment application AND canceld power AND only iddy biddy drink coffee at the desk kinda work going on "AT" Schaft Creek. AND itz why you got like 10X the spending at more advance projects like in Chile and maybe even Galore. Didn't cancel Galore EA did they???
That is what I think any wayz. Tell me how this doesn't add up to current shituation.
Have the BEST day!!!! ^_^