Schaft Creek: 5.85 Million Oz M+I

for a bit of perspective, Schaft Creek's gold...

- at the TRR buyout price of $85 per Oz => $497M or implies about $1.22 of gold producer value per share of CUU fully diluted

- equates to $5.78 of Au per tonne M+I in situ at only $1000 per oz Au

- equates to $4.22 of Au per tonne M+I after metal recovery and $1000 per Oz

Note, that the "Total Ore based costs" used in the 2011 RE was $5.12 - pretty much covered by the gold at SC.

As I posted before, the average grade of the 2011 Paramount drills are 34% higher than those used in the 2011RE so the gold story at SC is only going to get better.

The $1000 an oz is a price in line with $2.50 copper. It's a low benchmark to test how the project would fair in a low metal market.