Still getting my head round this report extract, but my initial euphoria was dampened somewhat by the lower than expected IRR. However, on first pass my eye caught this section...
Project Enhancements
The Feasibility Study makes recommendations for further development of the project that could enhance the economics of Schaft Creek including:
|
i) Copper Fox undertakes a diamond drilling program at Schaft Creek with a goal to determine the extent to which the 171.16 million tonnes of inferred resource, that lie within the pit shell, can be upgraded to a Measured or Indicated Resource. To the degree such a program is successful it will remove the affected material from being categorized as a rock removal expense to an ore bearing material and as such, a revenue generator; and
|
|
ii) Additional metallurgical testwork to pursue opportunities to increase metal recoveries and reduce processing costs.
|
| |
iii) Shorten the project development execution timeline.
IMO this is all part of the deal between Teck and CUU i.e we will drill and prove up SC further in 2013 for Teck, perhaps under a new agreement.
Teck sees the value in using Elmer's team, they have a lot of land that they need someone to prove up, why not someone they already have used and have confidence in. JMHO.
Still long and strong
Max
|
