Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: brundall who wrote (9696)	11/6/2015 2:40:36 PM
From: Underhill69	1 Recommendation Recommended By biggerbob68 Respond to of 10654

$20 millions for Ernesto not much money at all. He has all the time in the world. He could write it off as bad debt and move on as if nothing happened. your probly right that were probably 4yrs at least for an EA permit. I read that we only have about 6mnths of cash left . Elmo probably not concerned either. he gets nice fat six figure paycheck to wait this out as long as it takes. never ending nightmare for every1 else who holds this gabage

To: brundall who wrote (9696)	11/8/2015 11:46:33 AM
From: explorationguy	5 Recommendations Recommended By biggerbob68 Hog Head louel minder Theotokos Read Replies (1) \| Respond to of 10654

At what point does Ernesto get pissed off with what is happening here? There's also the possibility that he's behind all the moves. As majority shareholder and a member of the BOD he had to approve the replacement of the Salazar agreement with the JV agreement. Getting cash was crucial to survival and is the greatest hurdle to junior companies, yet they issue a cash back. And who was the greatest beneficiary of the cash back, well it was EE who reduced his exposure by about $ 7 million. Others have mentioned things like " EE won't accept a low price" or " he has our back" , which is complete nonsense. He is a businessman, not a charity, and will act in his own best interests just like any of us.Which brings me to the current situation where we have just about run out of time. Teck has not booked any resources or reserves for SC unlike what they have done on other JV projects such as Galore. They passed on two year end opportunities to do so(2013 and 2014) and another one is approaching. If the optimization studies at least result in a technical resource report which is filed on SEDAR, and Teck books some numbers, then that could be the trigger to sell. Even if Teck still doesn't book reserves at SC this year end, and is not deliberately playing hardball, they may not want to make any decision on SC next year for strategic business reasons. In that case CUU, having run out of money, may have no choice but to approach them and ask what price will Teck accept. Existing shareholders will not like the number.