My observations:

• This is a rather unconventional way of releasing new and significant company data or projections – this is a presentation, not an official NR
• Most of the data came from the market research of BMO, a third party, and the data are based on other public info and its own research; in other words, based on its own assumptions which may or may not be correct
• The final numbers, including the negative copper production cost of negative 4 cents, are not final. Obviously, by basing their presentation on these third party numbers, CUU management is giving the hint that these numbers are pretty realistic and its own numbers are at least as good as these numbers. But I do not believe BMO has been given specific numbers that have not been released to the public, that would be illegal and I don’t think management is that silly.
• I think the presentation is for the small retailers, and more importantly, it is for Teck shareholders; to make them aware of the huge potential of SC so they would not moan and groan when Teck announces a share dilution to acquire SC or CUU.
• My back of napkin sp calculation based on these numbers is at least $5
• This is getting really close to final curtain call, very exciting times for the longs!

JMO GLTA!