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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: Deal or No Deal?
4
Sep 06, 2012 11:26AM

I am conflicted, to be honest, Prospekt.

As recently as a week ago I was confident a deal was in hand.

Then when members of this board started pointing out the overhaul of the CUU website, I began to wonder. Why would a company that is on the verge of selling its major asset and possibly its entire existence invest the time and money in redesigning its website?

That was followed by the NR with mention of drilling being resumed. Again, if the deal is essentially done, why the heck is Elmer targetting more drill locations in Schaft Creek?

I would have to agree with those who are speculating that negotiations between Teck and EE et al. may have hit a snag, so CUU management is taking steps to make the company a more attractive buyout for another suitor. The BFS will, hopefully, be the piece de resistance.

That's not to say I think Teck is out of the picture, not by any stretch of the imagination. It's just all part of the posturing that takes place during negotiations.

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