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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: Vancouver resource show
6
Jan 23, 2012 08:17PM

I attended the show yesterday, but I have not able to post my notes as of yet. I hope to get around to it soon. Looks like there were a few of us there and it seems we all got the same answers. One thing there is no more debt, I asked and got that answer.

I noted a couple of posts adresed the Capex, accoring to CUU it may slightly increase due to increased costs for iron and thus steel. How large this incrase will be is not clear, they are working on it. The -0.32 cent cost for production will most likley change as well, since silver will NOT be included, BUT they expct the number to still be on the NEGATIVE side.

During the presentation it was stated that the grades for both copper and gold have increased significantly and that mlybdenum has incrreased by 100%

I left my notes back at home, so when I get back late tonight I'll try to post more info.

I came back from the show with a LOT of respect for Mr. Stewart and Mr. Smith!!!!!!!!!!!!!!

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