Hello Everyone... I am back from holidays in Nicaragua feeling very refreshed and quite relieved that I didn't miss the BFS release or the latest drills.
I checked on this BB from time to time but only to see if any real news was happening. I've caught up on my reading and feel pretty good about things right now.
Metal prices - especially copper - are showing strength with the 3 year trailing averages well above the metal prices that CUU used in the 2011 RE. Of course, Europe and Iran are creating a risky macro environment that could go either way. My lemma to that thought is that mining companies are flush with cash and appear to be willing to use that cash (albeit with an eye for bargains) with their long term strategic outlook towards dwindling resources world wide - especially in politically safe jurisdictions.
It is all about BFS and a few strategic drills now - and TCK's decision. The one and only kick at the can is coming and Elmer is making sure it is the best kick possible. Securing a third party to help with any negotiations will be a benefit to both sides of the negotiation (best price for CUU, credibility of a fair price for the buyer's shareholders). Our current SP reflects the potenital 75% TCK earn in risk. Sr. Echavarria's continued interest in CUU paper is testiment to his confidence in the project. I haven't seen anything to tell me that Elmer is not heading to the finish line with the best package possible.
I noticed some comments about taking the project further (more drills, revised RE, then revised BFS...etc etc). At some point we need to stop chasing our tail. Also, CUU will never become a miner - period. Elmer told me that mining Schaft Creek would be too risky for CUU (financing and managing the 4 yr market cycles etc). CUU is all about the BFS/TCK earn-in decision and selling the remainder.
There is probably 20 yrs of drilling out there left to do. Elmer's 2011 drills have touched the highlights (more accessible and clearest anomallies) and will give the best bang for the buck right now. More drilling after the 2011 drill results will require waiting to late 2012. The remaining drilling can be left for the buyer. I think we should see some drill results by late next week... (DH 416 & ???)... BFS any time...
I wonder if we will get a look at the mine plan before BFS? I recall Vette had commented that this was a probability. Maybe a good question for anyone chatting to management this week.
GLTA
