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They are also making the same case in the oil sands. There have been foreign workers flooding in from all over the world during busy times.
Good to see the share price is holding as opposed to the selloff we have experienced in the past after a NR.
Boiler2
I know this is a little off topic but it sort of fits with some of the other speculation being posted and I think webgogs was kind of touching on this type of scenario in an earlier post. It seems as though many pension funds particularly in Canada have money to deploy in infrastructure in a relatively short time frame and are being sought out by major corporations as partners given that banks are a little less willing or able to finance large deals these days. The link below offers a little snippet as to what OMERS is up to; however, Canada Pension Plan Investment Board is also on record as buying major infrastructure Projects overseas and in the U.S. If I was a betting man I would wager that there is a better than average chance that if webgogs theory of multiple partners in a new mining district holds true then the likelihood of major pension funds possibly getting involved with major mining corporations in a politically and financially stable country increases with every passing day.
Just musing while we wait.
http://www.omers.com/corporate/news_article.aspx?newsid=2678
If your theory holds true, I am guessing it could look very similar to how some of the Oil Sands Projects are structured. In many cases, those Projects are structured with two or three players to mitigate risk and distribute costs. In some cases they will share infrastructure costs such as airstrips etc. Those partnerships remain quite fluid and is evidenced with Teck buying an interest in the Oil Sands although I can't remember who they are partnered with.
Had not considered your idea at first but now that you mention it and look at other similar mining industries - it does seem plausible. Spread the risk and costs developing the Schaft Creek District (yes like most others I believe there is more than what is visible at the moment - hence the term district) and if they maintain a controlling interest in Schaft Creek you never know how things could develop down the road.
Interesting times indeed.
Boiler2
I post rarely and as a self confessed amateur at this game compared to others on this Board, I prefer to adhere to the old adage of 'keep thy mouth shut and your ears and mind open".
Keeping the above in mind and at the risk of posting what may be termed basic information to others; I came across some information I believe is relevant to this discussion given the speculation over share price, geology etc. The chart shown below in my mind is strikingly similar to the pattern CUU seems to be tracing on its way to buyout. With the exception of the SP retreat and current pause in SP advancement we have seen over the last year, I believe as others have consistently posted that we are on the verge of a signinficant breakout in share price. Just thought this might be useful in bringing some focus back as to where the share price should or should not be. Constructive criticism is welcome as always.
Thank you to those that are generous enough to share their info - truly a lesson in the power of many minds working together for the common good!
boiler2
Geology Does Matter in Junior Mining Investments
New York Hard Assets Investment Conference 2011 Online Preview
Knowing when to sell a junior exploration stock is as important, if not more so, than knowing when to actually buy one. Selling intelligently requires an edge over your competitors-the thousands of other speculators in the junior mining sector. That edge is the ability to know when a company's share price (market capitalization) is out of sync with the potential value of the underlying mineral asset.
The chart below shows the typical discovery life cycle of a junior exploration company and dramatically illustrates the move from undervalued to overvalued and back again. Knowing where your company is on this chart is the single most important piece of information you as a speculator can have in order to profit in the junior exploration sector. Alternatively, by being on the wrong side of that curve, or missing the opportunity to profit by selling a company with a mineral project that does not contain an economic deposit means that you forfeited that opportunity to someone with better insights than you.
Typical life cycle of a mineral discovery - concept to mining
Those insights that provide the confidence to know when to sell or hold come from a thorough understanding of the company and the mineral property. Specifically, to be consistently successful speculators in the minerals exploration sector you need to know these things ahead of the crowd and act accordingly:
- What type of deposit is being targeted (epithermal vein, base metal manto, porphyry copper, etc.) and is the geology permissive for such a deposit.
- What the likely tonnes, grade, and metallurgical characteristics are going to be if the company is successful in finding a deposit.
- What the probable capital, mining, and process costs may be for the deposit, given the location and metallurgy and, ultimately, the ballpark value of the deposit.
- How much it will cost in exploration expenditures and time to reach the project goals and how the company intends to raise the funds without diluting shareholders' potential profits.
- When the results are not confirming the exploration thesis and the project is a bust.
Obviously, the ultimate answers to the project economics in numbers two and three will require the expenditure of tens of millions of dollars over several years in order to produce a feasibility study strong enough to enable the company to raise the capital to build a mine. However, in the early exploration stages, we need only know if the project is showing the right tonnage and grade characteristics to meet our mine cost hurdles. That means careful analysis and interpretation of the incoming drill results and related geological setting.
The simple recognition that an "exciting" high grade drill hole went down the vein rather than across it can keep you from following the herd into a costly investment mistake. Likewise, recognizing that a drill hole replicates historical results and adds nothing to the potential value of a property is an important geologic insight that is often overlooked by anxious speculators playing the currently hot mineral sector.
The reality for speculators in the exploration sector is that there are in the order of 3,000 companies exploring more than 10,000 geochemical and geophysical anomalies on Earth. The baseline odds of any one of those anomalies producing an economic ore deposit are somewhere near 1 in 1,000. Although these odds can be improved with careful due diligence the fact is that more often than not it will become obvious that a company's property is either not going to be economic, or if it is, that it will probably not be worth as much as the pre-development market value. The sooner you recognize this, the more likely you are to lock in a profit rather than sustain a loss.
My point is that when the wind is blowing hard and even turkeys are flying we all look smart. But when the wind stops and reality sets in the truly smart speculators have sold because they understood the mine cost parameters and geology. That, dear reader, is what differentiates Exploration Insights.
Brent Cook brings more than 25 years of experience to his role as a geologist, consultant and investment adviser. Cook's weekly Exploration Insights newsletter focuses on early-discovery, high-reward opportunities primarily among junior mining and exploration companies. He will talk about "Turning Rocks into Money" on Monday, May 9, and on "Interpreting Exploration Results from New Releases" on Tuesday, May 10, during the New York Hard Assets Investment Conference.
... are showing themselves to have had the foresight to engage the First Nations from the start. Check this mess out if you haven't read it already.
This is the type of exposure for CUU I hope never comes to pass. Thank you Elmer et al. for avoiding this type of quagmire.
Court fight over Taseko Mines prompts duelling injunction requests
By Terri Theodore, The Canadian Press | November 28, 2011
The offices of Taseko Mines Limited is pictured in Vancouver, B.C., on November 25, 2010. THE CANADIAN PRESS/Darryl Dyck
VANCOUVER - An angry dispute over a proposed massive gold and copper mine in B.C.'s central Interior has set off duelling requests for court injunctions against the opponents.
But the chief of the Tsilhoqot'in First Nation said Monday the court process may only be the spark that ignites a much larger confrontation against the New Prosperity Mine.
Taseko Mines (TSX:TKO) wants an injunction and enforcement order against the band, while the First Nation wants the court to keep the mining firm out of its territory.
Taseko's lawyer Joan Young told the B.C. Supreme Court that the natives have taken the law into their own hands and obstructed a public road.
The company has 12 months to complete the necessary work at the site needed for a second federal government environmental process, but the natives are refusing to allow them onto the land to do the work, said Young.
Tsilhoqot'in lawyer Jay Nelson told Justice Christopher Grauer that the band wants the injunction preventing Taseko from working on the land until the B.C. Appeal Court rules on the band's case involving aboriginal title in certain claim areas.
"There are fundamental constitutional rights at stake and reconciliation with aboriginal people is at stake," Nelson told the court.
The B.C. Appeal Court reserved its decision late last year on the case and set no time for releasing its ruling.
Tsilhoqot'in Chief Marilyn Baptiste said the B.C. government simply rubber stamped Taseko's permits and licences for the mine, without consulting with them as required.
"We're not the ones making the choice to go to the ground. We're not the ones making the choice to roadblock," she told the media outside the courthouse.
"It's the government and industry that are pushing us to stand up on the ground and protect our way of life and our people."
As a handful of people carrying protest placards stood by in support, Baptiste told reporters the court application is asking to keep the company off band lands to protect their territory.
The mine has a controversial history. The proposal for the $1.1 billion mine near Williams Lake was approved by the B.C. government, but was rejected in a federal government environmental review last year.
Earlier this month, the federal government agreed to hear a second environmental review after Taseko reworked the project, planned to spend an extra $300 million to address environmental concerns and promised to save Fish Lake, which the natives say is culturally significant to them.
The decision to give the mine a second chance angered several First Nations groups.
Chief Bob Chamberlin of the Union of B.C. Indian Chiefs stood beside Baptiste outside the courthouse Monday.
He said the union will call on its membership to support the Chilcoutin natives in whatever decision is made to protect their territories.
"If that's a road block, then it's a road block. If it's a sit-in somewhere, then it's a sit-in somewhere," Chamberlin said. "But we want them to know that they're not standing alone, and that's the message I want the government to know."
Chamberlin said First Nations have to take a stand against the B.C. government decision to allow the mine without consulting First Nations.
"This could be our fish, it could be our lake, it could be our territory. And if we think that this behaviour is going to be specific to just one project, we'll be sadly misled."
He said governments are ignoring Supreme Court of Canada orders.
"When are we going to rise up, when are we going to say to Canada 'that's enough now. You've been offensive, you've disregarded our rights that the Creator himself has given us,' and we're about to stand up and say 'No.'"
Taseko's Brian Battison, who attended the court hearing, said the company has attempted to talk with the area First Nations, but they have refused to come to the table.
He said Taseko is hopeful there won't be any more road blocks.
The court watched a series of videos taken by a member of the Taseko crew who made several attempts to get through a First Nations road block into the proposed mine site earlier this month.
In the video, Baptiste is heard repeatedly telling the Taseko crew to turn around.
"The Crown cannot run roughshod over our indigenous rights," she said.
One of the mine's crew then asked if it would be safe if they wanted to take their equipment out of the area.
"It will not be safe," she replied. "I will not guarantee your safety."
The hearing is expected to last the rest of the week.