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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: 2012 RE
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I should add that our new in situ value after metal recovery and 3 yr metal prices is

$34.883 BILLION (or about $28.39 per tonne)

Chappy, quick clarification. Are you saying that this is the Net Smelter Return (after metal recovery) before subtracting Operating Costs (transportation, smelting and refining)?

Thanks

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