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Gold/Mining/Energy : Copper Fox -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (8543)	12/7/2014 1:11:14 AM
From: louel	1 Recommendation Recommended By minder Read Replies (1) \| Respond to of 10654

Meta: I would suggest the Feas was given to Teck. Just not under the conditions set forth in the Salizar agreement. Elmer agreed to substitute it with the J/V. Perhaps he considered it his best option. Taking it to market when the TSX. V is in Bear Market condition would not bring a great price. ML at Kingman couldn.t find a buyer for a fully operational facility. Let alone a remote project where access cost may be $100M or more. I would venture to guess Teck was not willing to do the Four X spending at this time while they are committed to Ft/Hills. If they pushed the issue, Teck could have just taken a lesser amount. At 20% they unload all the development, financing and workload on to CUU who are explorers not miners. Then Cuu or if a buyer was found would still have to negotiate the access road building and usage agreement. The access road other than the spur from 65km going to Schaft Creek belongs to and is controlled by GCMC. It has not been finished beyond 40km. So I don't believe the SLZR agreement was not subscribed to because the BFS was inaccurate. I would say there is a lot more to the story than we are privy to. The decision for Elmer to accept the deal he did may also have been influenced by one or more of the underlying agreements on the property. Only Teck and Elmer knows what is in them as far as I am aware. I'm not trying to justify the deal. Simply looking for a some what reasonable explanation as to why. Dale Andress/ Teck Copper acknowledges the BFS. teck.com At present the TSX.V is in a Double Bear. only 16 points above it's all time low of 685