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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 2012 calls for 2 further exploration phases

I am not sure what you mean by this. Frosting on the cake is the best part, it is delicious. Capex (capital expenditures), on the other hand, is definitely not delicious. Capex is the single most crucial aspect that could potentially have a negative impact on the economics of the feasibility study. As you pointed out, environmental issues seem essentially non-existent which in turn, will help keep Capex down. With that said, the economics of mining have changed rather dramatically since 2008. Look at gold miners. They need a much higher gold prices in order for their projects to be economical these days. Nevertheless, it is my opinion that the capital expenditures will be held relatively in check. We will definitely see a rise as labour, steel, and other costs have increased but I believe that this can be offset with the higher metals prices, potential of two open pits, and the higher grades from the paramount zone.

"Capex should be the frosting on the cake"

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