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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: Liquidity event etc.

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Jul 20, 2012 05:39PM

Teck can't make their back-in conditional on anything. They only have a hold over their option to back-in for the 20-40-75%. This is the one thing we have that has them backed into a corner. They have to declare within the 120 days, and they have only one decision. If they want the remaining percentage then they have to offer sufficient money for us to sell. We don't have to sell. We can just sit there and force them to run out of time and have to make their decision public, and once they announce to the world that they are taking 75% then our stock price will go up significantly. They know that they have to make a deal for the whole project essentially before they make the decision public.

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