Actually, TECK back in is the worst possible scenario.
If they decided to pass, CUU has the whole ball of wax to sell.
Otherwise TECK comes in and pays market value for 25% of what has been proven, based on the PFS, the drilling to date, an updated RE, due any day, an aerial survey, concluded this week, the additional properties you mentioned, and a BFS, due in June, that starts the 90 day clock running on TECK to shit or get off the pot.
By the way, the PFS came up with a copper production cost of -.32/lb, based on 2007 metal values, and they have a lot of gold and silver.
And since insiders have 65%+, it will be market value. No hostile takeover or end runs. |
