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Maybe somebody else is buying our share like CIC and forming a JV with Teck.
Maybe today we get to find out what a district with 10 B lbs. of copper, 10 M ounces of gold, 100 M ounces of slver and 700 M lbs of moly, measured, indicated and inferred with lots of upside potential is worth in Canada.
GLTA, canoehead
What part would 100% confirm that the notice was delivered?
How about;
The Company has delivered a copy of the completed positive Feasibility Study to Teck Resources Limited ("Teck"). Teck is reviewing the Feasibility Study and is discussing with the Company its earn back options available under the "Teck Option Agreement" dated January 1, 2002.
In other words the study has been delivered, as in "Here's the study" and discussions have begun between Teck and CF regarding the earn back options available. If it was not delivered, why would they open discussions?
The other side of the argument is that they delivered the study and opened discussions without saying we are delivering the study. If they didn't say we are delivering the study how would Teck know to open discussions? I don't think the no notice argument holds any logic whatsoever. But as always JMO.
GLTA, canoehead
Hoghead, you are absolutely right! It is a material event. That it why they stated in the Feb. 4 news release,
"The Company has delivered a copy of the completed positive Feasibility Study to Teck Resources Limited ("Teck"). Teck is reviewing the Feasibility Study and is discussing with the Company its earn back options available under the "Teck Option Agreement" dated January 1, 2002. There can be no assurance that these discussions will lead to Teck exercising any of its earn back options nor that the Company and Teck will enter into a definitive joint venture agreement as contemplated under the Teck Option Agreement.
Mr. Stewart stated "The filing of the positive Feasibility Study and commencement of our discussions with Teck related to its earn back rights are significant milestones for the Schaft Creek project. We look forward to these discussions regarding Teck's possible future involvement in the Schaft Creek project. "
What part of that news release would indicate that the "notice" has not been delivered?
GLTA, canoehead
OK, I see now this was extractions from the concentrate that was already produced at 24 to 26% copper. Was there anything ever pubished about the recovery rates they were getting in producing the concentrate?
GLTA, canoehead
Skibum wrote
Regarding your first item......cesl (cominco engineering services ltd) COPPER AND GOLD HYDROMETALLURGICAL EXTRACTION FROM CONCENTRATES In 2007, CESL conducted exploratory tests to investigate copper and gold hydrometallurgical extractions. The tests used the CESL proprietary leaching technology, including pressure oxidation of the copper concentrate followed by pressure cyanidation of the copper leach residue. Two-thirds cleaner bulk copper- molybdenum concentrates produced from the PRA test work, assaying 26.3 and 24.9% copper, were used for the testing. The preliminary tests produced high copper extractions in the range of 96 to 98%, indicating that Schaft Creek copper concentrates were amenable to the CESL process. These copper extractions were achieved at 15 to 30 minutes of retention time as compared to a typical requirement of 60 min normally required for a chalcopyrite concentrate. Pressure cyanidation tests extracted between 89 and 92% of the gold and between 81 and 88% of the silver from the copper leach residue. Sodium cyanide consumption was approximately 3 kg/t due to the high thiocyanate and other metal cyanate compounds formed.
The difference in the recovery rates compared to the BFS is 11% better for copper, 20% better for gold, and 66% better for silver. Plus twice as fast recovery time than normal.
It's been stated that 1% improvement in recoveries would have a large impact on the NPV. Can anybody tally up these differences?
Why was it reported so low in the BFS when tests had already been done. Am I missing something here?
GLTA, canoehead