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

To: explorationguy who wrote (10507)	2/8/2018 12:29:02 AM
From: louel	Read Replies (1) \| Respond to of 10654

The 2 Es cannot put Shaft creek for sale on the general market, and Teck knows that. Therefor Teck can take as long as they like to toy with it. Why would they tie up the cash it would take to buy the 25% when some one else can carry the bill at no cost to Teck ?. If Elmer attempted to monetize it on the open market. A buyer would not know how long Teck intends to leave it on the back burner. Their funds would be dead money until Teck decided to move on it. Under the J/V agreement Teck would remain the operator making the decisions. Any firm willing to make an offer. Under those conditions would Low Ball it. Under the JV it states Teck would only have to match the highest offer no matter how small. Even if it was as little as 100,000 or $500.000 to assume full ownership of Copper Foxes remaining 25%. Copper fox would be forced to forfeit as per the JV agreement. I'm sure you must have read that part of the contract. Teck maintains the right of first refusal. Anyone who would buy out Copper Fox would also be bound by the terms of the agreement that CUU signed. It places Teck in a very secure position and leaves the 2 Es with little or no bargaining power. I have said on this board and on SH many times ever since the Feas was released. Shaft creek has a large and minable resource. But the low IRR ties it to Galore to improve economics as you have just stated. People were so wrapped up in Vette I got an instant 14 ignores on Stockhouse for saying so and a fair number of nasty inboxes. Teck is still deep in assessment of the project. The report does not say the status quo is accepted. It says it remains "CURRENT" that means at the present time. They would never change that half way through their assessment program. At the end when Teck has completed their review. They will then,and only then decide whether a new technical report is warranted or CUU's 2013 report is valid and acceptable. Read what it states below. That is the crux of the whole report. The rest is nothing more than a bunch of words to take up space on the page. To make it an economically satisfactory venture Teck in the end May or may not reduce the amount of the resource they intend to process. A long way from over yet. "The 2013 Schaft Creek Feasibility Study remains current. If upon completion of the desktop studies, the SCJV concludes that there is the potential to materially change project economics, the SCJV will assess the timing and scope of further studies and a NI 43-101 Technical Report if warranted. The remodeling work completed by the SCJV resulted in improvements to the geological interpretation and has found no material changes to the 2012 resource estimate included in the 2013 feasibility study In simple terms, The IRR is still 8 to 9 % after tax Pre tax less than 12 Even if they chose to develop it. Envrio road permits are 2 years, Then 1 to 2 years road construction before equipment can hit the site. and another 3 to 5 years prep and mine building. Ten years at the least That's how I read in the report. Some times it is not what is said, But also Hypothetical points that lie be between the lines they don't clarify.