Just a few more tidbits for those who like to sleuth. Anyone out there recorded the AGM? ... thought about it halfway through. (Dsikorsk, was that you who asked a Q towards the end? If so, what were your impressions of the AGM and chatting with Ernesto at the end?)

Random Notes on top of what I posted earlier:

1) Elmer figured the Environmental Assessment Application(s) would be 8-10,000 pages. It is well underway and the concurrent permitting will let “them” (ie. The “miner/operator”) get started on construction while the last of the EA happens. Shane Uren is on top of all this.

2) Elmer said is would be $36 million more a year shipping concentrate from Vancouver than the Port of Stewart. So, 600,000 tonnes of concentrate a year x $62 more a tonne = $36 million (that’s a lot over 22.5 year of mine life). Also said the concentrate would most likely go to China (hmm … maybe it’s obvious, but I thought that was telling myself)

3) Talked about Dynasty being huge, a “world class deposit”, but that the EPA in the U.S. was giving them problems because of salmon bearing rivers that would be affected. Salmon is huge for Alaskans (see Pebble issues too – my note). Elmer also mentioned Duluth Metals which was having EPA issues too in Minnesota (although Elmer said he didn’t know what these were exactly). – see the CUU presentation comparison of our “peers” by BMO were we are ranked alongside each other. Elmer said our jurisdiction of BC is very good/safe.

4) For what it is worth, in August 2010 they figured out that the Liard was open to the east. Must have correlated with the July 2010 IP survey. http://www.copperfoxmetals.com/s/NewsReleases.asp?ReportID=414483&_Type=News-Releases&_Title=IP-Survey-Significantly-Expands-Potential-of-Schaft-Creek-Deposit

5) ARIZONA again: Royalty payments for these properties aren’t a big deal if CUU goes ahead after the due diligence. Elmer has seen royalty payments 2.5-3 times as much as proposed for us, for other acquisitions in the U.S.

6) Van Dyke: chalcopyrite bit on top was mined, but porphyry likely below this layer (Elmer thinks this). Cu Oxide exposed near Van Dyke. Showed the pic from the Bell Copper presentation that shows the BHP wellhead and Van Dyke very close.

7) Sombrero Butte: nearby San Manuel is reported to have 14b/lb of Cu; Redhawk 3.4b/lb. Elmer thinks there is a good chance we can increase Sombrero with exploration. Strategy on new lands, if we take them, is to do some geophysics and spend a little $, and try to identify possible targets to drill. Mentioned drilling maybe 100m centres for a 1500-1800m strike (my thoughts – he’s already thinking this through and planning for it, if the DD proves up).

8) Shareholder Q: have lands been finalized for the Teck back-in if it happens? ES: “We’re working on it.” Elmer's gut feel is Teck should take it all. Elmer said mineralization may go right from Schaft Creek to Galore, North, maybe not South. Right after this Elmer asks a great rhetorical question, “How many deposits in a porphyry district?” (my note – I think we all missed our cue to clap or laugh here). Elmer is totally convinced there are multiple deposits (I got this sense at PDAC in January and again at the AGM today).

9) When a shareholder asked if we intend to keep exploring the lands around Schaft Creek, Elmer answered: Teck will likely take us out. But if not, we keep the lands. Elmer clarified that this is his guess (Teck take out), he doesn’t know. But also said it makes sense to sell all the lands, because what if we find a 300M tonne deposit next door to Schaft Creek in the option or out of option lands?; we are somewhat at the mercy of Teck or the operater (if they are operating Schaft Creek alone) because they have the mill and infrastructure. (my note – I suppose it is different if we find a mammoth second or third deposit, but this is a gamble, and everyone wants to move on) .

10)The importance of moly – Highland Copper is mining 0.006% moly and making good money at it. Elmer said it is very important to have a polymetallic deposit and that our latest inclusion of silver was a result of hard work and perseverance (I didn’t think it would have been that hard to include silver, but obviously this shows my ignorance to some of the complexities involved here. Lol). Our moly is very important if you look at the recovery rates, tonnage, and grades (my note, but I think Elmer implied this when stressing moly and highland).