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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Buyout.
2
Dec 02, 2011 11:11PM

The back in is a separate action from the potential buy out.

If and when TECK declares their intention to proceed with Schaft Creek, CUU shares will react to the announcement.

It automatically transforms us from a hat-in-hand explorer into a junior miner, in all probability with a carried 25% interest in a huge mine.

TECK can either negotiate with Elmer and Ernesto to buy out CUU, simltaneous with the back-in; wait for the market reaction to just the back-in announcement to negotiate, after what should be a significant correction as we go from explorer to miner; or wait for additional results to be collected.

Seems to me that the CUU price ought to see substantial strengthening as each of these events occur.

And given the control structure of a majority holder, in close contact with management, having full knowledge of what the deposits are worth, leaving TECK with little room to drive much of an under market acquisition at any point.

Let the assays show up whenever, they likely will have already been discounted into this negotiation.

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