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

To: louel who wrote (8560)	12/7/2014 8:10:53 AM
From: Metacomet	1 Recommendation Recommended By Hog Head Read Replies (2) \| Respond to of 10654

I would suggest the Feas was given to Teck. Just not under the conditions set forth in the Salizar agreement. I totally agree that this is indeed what happened The question is why.. ..and all of the other points, wouldn't be able to find a buyer, 4x expenditures, etc are all correct as well.. Problem is they could have come back to about the same place anyway ..if they couldn't get a nibble on the whole project, Teck still had the right to back in under the terms in Salazar, and they could have negotiated any number of scenarios for expenditure levels going forward ..and if Teck was interested, in re-acquiring what we had earned under the contract terms, we might have been able to achieve something that resembled an arms length transaction, not this stump screwing we accepted Pretty sure that is why those protective terms were insisted on by Salazar before he agreed to risk his/our capital in such a risky undertaking in the first place ..so the question hangs, why not simply perform under the contract terms, deliver the BFS with the required Feasibility Notice, Teck immediately delivers the Liard shares to CUU, as required, then negotiate the pre-agreed backin and JV to get everything back IMO, Teck did not like the provisions of Salazar and the potential loss of the project Did not want to take a chance that another entity would be interested in the package that CUU would be able to vend, ie the entire project including the Liard share, and told Elmer they were not going to deliver the shares, so how were they going to finesse the public agreement Strategy one was simply fail to meet the Salazar bar ..screwed that one up, although they tried, else the PFS was pure fraud, so they simply ignored the contract provisions, which we now know was plan B.. ..only guy that was paying attention, and would know what going on was Ernesto, and he has obviously been dealt with