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Gold/Mining/Energy : Copper Fox
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To: mudguy who wrote (9052)1/4/2015 7:07:42 PM
From: explorationguy1 Recommendation

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Zep70

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The amount of metal recovered is virtually identical with only 2 more years time difference, so I doubt the block model is the issue. They did book more measured reserves in 2008 but the totals are very similar when converted to 2P reserves. I was hoping someone had a NPV calculator handy and could take the data from the 2012 curve and try to compress it by two years at the front end to gauge the impact. If I was CUU I would have called a meeting with the consultant to compare the two results, determine what caused the big drop in NPV/IRR , and then look at possible solutions such as chopping off a year in the schedule if it would have a big impact and was realistic. At any rate Teck will know what numbers to use. CUU had a choice to select the 70% LG shell according to the FS so it's possible this" go big or go home" strategy backfired.
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