Sorry i posted from my iPhone in the parkage at con center. hard to answer your posts while I was at family for coffee.
Elmer is very committed to Copper Fox PPCguy, if you have this much doubt sell and move on, Ill buy your shares.
Elmer was mentioning that "if" teck were not to buy us out they could bring this to a mine , or bring in a JV partner or sell to another bidder. At this moment they are not in talks with anyone else. Teck is committed to this process and they have worked hand in hand. The 30 day timeline is there but not likely as the BFS requirements have been taken place step by step with Teck. Teck does not usually take the full time with its Juniors that they help. BFS will be next week and the clock would be a max of 150 days ... not likely.....
No delays on EA, so far no problems. There has been quite alot done and the remainder can be done now that the mine plan is complete. Their focus is to talk to both levels of government to move things along. There is a pressure to get more good paying job in that area and SChaft woulf employ 800 full time 365 day a year people. There would also be 1500 indirect local job from the mine......
Had a discussion about Galore or Schaft. Galore is not economical as it is to far from wste site. Too much rain in their V shaped valley. SChaft has a wide cup shaped pit to put waste and can be enlarged by raising the dam walls. If you look on the map Galore is in the mountain range where as Schaft is 80 k from them. For 365 day mine there would be minimal snow removal , Galore would be far to expensive and would not be able to run 365....
When dicussing value on Shaft and our share price, Elmer told me of a company last year that buyout was 386% above share price because the buy out is based on value not share price, especailly because EE wil not leave any value on the table, Elmer said he is a very shrewd business man....I talked to some one else who said that the high prices like 7 >>> were out of touch. I said I would not tell the boards the price that one person had in mind for a decent offer per share, but it is not that high. As I said earlier post the only negative I got from the day was that the buy out price from one source was not as high as I had assumed when i bought into CUU.NOt to worry I will still make great money. This still was only one opinion and until Teck makes their first offer "and we can say no" its all speculation....
After the extended chat with Elmer I got a greater understanding of what Schaft really is about. He pointed to areas that needed to be drilled , have only been drilled to older standards and areas that havent been drilled but had personal wlk the areas and take outcrop samples. Follow the trend north and it looks REALLY good. The trend does extend out of the 2 km area and those areas will be next for CUU in BC. He did not tell me what was next on the agenda for exploration as the team is committed to finish Schaft first. THe Sombr Butte was picked up because it was "dirt" cheap as the former owner was fire sale.
