Interessantes Interview: es wird von einem Umtausch 10 zu 1 gesprochen.
Teck steht auf rund 30 CAD dies würde für CUU einen Gegenwert von 3 cad je Aktie bedeuten
Respected poster Iletea reports from the Toronto show. This is the full interview from the AG CUU forum. Thanks, Iletea!
I just got back from the Toronto show. I managed to be there when it opened and I was lucky enough to spend about 20 minutes with Mike (Jason was busy with someone else). First of all, he’s a first class gentleman and I’m glad I had a chance to meet him in person.
Below is my recollection of the discussion with him. I’ll do it in a Q&A format, and the answers are as close to what he said as I can remember.
Q: Why hasn’t the economic analysis and project sensitivity been finished yet? They were scheduled for completion in early September.
A: We are in the final stages; it requires a large amount of work and we are now pulling all the numbers together to complete them
Q: Why two reviews of the Feasibility study?
A: This is quite common in the industry and we want to make absolutely sure that anyone reading the report will not question the results
Q: Is Matt Bender the same person that worked for Newmont?
A: Yes, we were fortunate to grab him three weeks ago once he stopped working for Newmont. He’s familiar with our project and we are delighted to have him working for us.
Q: Who is paying for the two reviews (internal and Merit)?
A: We are (Copper Fox)
Q: Would that expense qualify for 4X money back under TECK agreement?
A: Definitely (big smile); wouldn’t you like to get 4X money back?
Q: Once the FS is done, the two reviews will start?
A: No, the reviews have started already
Q: Both of them?
A: Yes
Q: What happens if there is a difference between the reviews?
A: Things are being discussed all the time among all reviewers; this is a matter of fine tuning right now
Q: Are you going to publish the FS once done, or wait for the reviews to be finished and then publish?
A: FS and reviews will be done at the same time; one NR
Q: How long before the reviews are done?
A: Not long at all; I don’t want to commit to timelines, but the review process doesn’t take long.
Q: So we are not talking months?
A: No
Q: Within weeks?
A: It won’t be long
Q: Are you concerned with the daily SP, given that most buyouts are on a “premium” to current SP basis?
A: No, we'll be negotiating the value of the deposit. We all have a lot of our money invested here and Ernesto is a very shrewd businessman, he doesn’t leave money on the table. Also, CUU has held its ground better than most peers over the last year.
Q: When the liquidity event happens, are we going to get a lump sum?
A: Either a lump sum or mix of cash and shares; then we’ll have a share roll-back, probably 10:1, and do this all over somewhere else
Q: Why the sudden close camp – lets drill – no drill?
A: A few extra holes would not have helped much right now. However, if only Shaft Creek is sold, then it is a different story and we’ll go at it full force
Q: Have you considered partnering with TECK and go mining?
A: We all want to get our money out, our first option is to sell and continue exploring. Would you like to be tied up in here another 4-5 years?
Q: Is Arizona property in the discussions?
A: Everything is on the table for the right price
Q: Are there any plans for drilling the Arizona property this year?
A: Nothing planned for this year; focus is on SC
Q: How are we progressing on the environmental front?
A: Discussions are ongoing with senior level government reps and everything is on track
Q: Are we in talks with NTL?
A: Yes, but there is only us and another 2-3 projects in such an advanced stage. Hydro even hasn’t figured out exactly how they want to handle it.
