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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: NPV Model
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Sep 14, 2012 11:55AM

I have to agree that the extra lands aren't worth that much without drilling. Been chatting with some mining engineers in Vancouver recently who are very familiar with the golden triangle - they confirmed to me that drilling needs to happen to prove up the value, as nice as the aerials and magnetics are (and RE's for the drillings needs to happen too, although an RE is a relatively cheap item compared to the drilling).

We're undervalued pretty far I believe based on the RE 2012 properties alone. Really not sure what Elmer's plan is for getting the value out of the other properties which constitute the bulk of the deposit. Maybe Teck "taking" the whole district leaves us exploring still with some type of agreement (that could include paying expenses and ongoing NSR for the future). I guess we'll see shortly here :)

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