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Gold/Mining/Energy : Copper Fox
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To: louel who wrote (10510)2/8/2018 3:32:55 PM
From: explorationguy   of 10654
 
I'm hoping the interest occurs this year but don't what the trigger may be. Here's another point about the JV if you dig into the fine print. The desktop studies are expected to cost $ 800k. If Teck uses their employees, which I expect they will since they do their own FS work internally, then they will book that amount against the JV as a direct cost(see Appendix B section 3). While CUU doesn't pay cash directly, it does reduce their remaining value in the JV by $ 200k(25%). Over $ 20 million has been spent to date of the $ 60 million that Teck has to fund. So CUU has lost $ 5 million in book value since the JV was signed, if I've read the agreement correctly.
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