I think today's drop in SP is mainly a function of being over-bought on the daily chart. The $1.21 is maintaining a level of support. The 80k+ dump didn't take us lower than this level for any significant amount of time (i.e. only 1 minute or less). I'm looking for us to close in the lower $1.20's today. I'm surprised we opened as high as we did today.
As Metacomet points out, the First Nations issues with Red Chris, are too easily transferred onto Schaft Creek if you don't understand a few key differences. I think the difference between these two projects and their history are not as easy to see.
SC, being such a big project, automatically triggered provincial and fed enviro review criteria. In turn, SC has been agressive with its enviro baseline studies since 2006 and these studies are readily available on CUU's website. I believe that the Tahltan appreciate CUU's regard and effort to the environment and can readily see the reports that break down all of the environmental considerations online (http://www.copperfoxmetals.com/s/SchaftCreek.asp?ReportID=209031)
Red Chris started as a lower tonnage operation and thus skirted the enviro review triggers. Since then it has grown in scope, and is getting ready to start. In contrast to CUU, Imperial metals doesn't have any enviro baseline studies available for public access (as far as I could tell). Red Chris's proximity to a number of fish lakes and the upper Kappan river raise those enviro questions to both FN's and the wider public.
I understand that there is also a different approach to engagement with FN's vrs CUU's progressive and respectfull approach to these original occupiers of the land who assert their rights with support of the courts.
Some miners are learning the hard way (Taseko?) about how the province has downloaded FN relationships and part of its fiduciary responsibility under the Indian Act onto a poorly prepared industry. Luckily CUU is in good shape in this regard.
jmho
