Ok...........
This was one of the things I was afraid would happen back in Nov but now they dragged our hopes for 6 months and here we are, the waiting won't be that bad now that we're here and April is in 10 days.
This is something they thought about doing after all the amazing 2011 drill results. In order to start the RE2 they required the final assays. But we would not have accepted the wait back then (6 months ago) as we had been expecting the Feasibility in Dec,
This is why we didn't get the Feasibility in Dec, Jan, Feb, it has been held back.
Back in Dec 2010 they said they wanted to include the 3-4 drill results in a new RE..
The new RE1 was constantly delayed by AMEC because of silver issues. And we all know by now, no RE no Feasibility. Yet they said it would not delay the Feasibility.
''The re-sampling and additional diamond drilling proposed above would not affect the completion date for the feasibility study on the Schaft Creek deposit which is expected to be completed either by the end of June or early July.''
This RE1 delay would give CUU enough time to drill alot more holes (2011 season).
So what could go wrong this time ???
Ah...of course. Tetra Tech manpower and scheduling difficulties. LOL......
No way.
They wanted the RE2 included in the Feasibility all along.
Obviously they don't care about the Teck 120 days, I don't think we'll be going through with it.
Apparently the RE2 could be such a game changer $$ that they have opted that it will be more profitable to wait the extra 6 months.
Just take the time, and go look at all those 2011 results again. It should put a smile back on your faces today.
The key here on knowing when this will end is that they have not yet reported a drilling program. If they announce that they will keep drilling the Paramount and Liard zone, I won't like it.
If they announce that announce that no drilling on the Paramount zone is required and that they plan on a bit of drilling to prove up some new zones (South , North , Mike, ES, GK etc) I will love it because that will signal the end for good.
I have so much iunvested time here that I won't let it become wasted time, I want my reward.
HERE ARE SOME POSITIVES:
* The Resource number 2 we already know will be amazing, we constantly hit amazing grades, over very long distances, from surface and extended the Paramount at depth, East , West, North etc..
The measured, indicated and inferred will go way up, the reserves will go up, the average grades will go up. How can this be bad for our share price....
The 2011 Resource had us at : 7.63 Billion pounds of copper, 453 million pounds of moly and 7.2 million oz of gold....(silver was not part of it)
This time we wil have alot more copper, gold, moly, with higher grades and on top of it we will have the silver.
Not only should this new RE impress the markets it will completely change the Feasibility.
* Yes summer is a boring season, a low volume season...For all the other stocks it will be and I think many will join our party because it won't be boring for CUU.
* This short delay will greatly improve the 3 year average (metals prices), mprov ethe economics and already negative cost to production.
* So what are our total expenditures at now lol...and what will they be 5 months from now. Again a obstacle making it even more impossible for Teck to earn in.
At this point we will get taken out, don't even bother with the ''Teck the back'' discussions anymore.
* The new Ressource estimate included in the Feasibility will certainly create a much more agressive bidding war (If we get there of course)
* I think more goodies are coming (road, power line, land (still not announced)). Who knows if Teck is not currently negotiationg to find a partner on this etc, etc, etc..
Maybe they are waiting for the 50% Galore buyer to team up on Schaft...
Last thing...I know you all find it strange that management kept saying eveything is on time etc etc... Face it these guys are not stupid...and they probably don't like looking incompetent, because obviously they aren't.
That's why nothing is what it seems. There may be something else afoot.
