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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: Elmer and BFS

That being said, the March delay still has me quite confused. Under normal circumstances, it should be virtually impossible for the Consultant to surprise the Company with an incomplete report only weeks before the deadline.

The delay does seem to be very long since fall 2011, then Dec. 2011, then Mar. 2012, until September 2012. However, I wonder if there hasn't been a complete redesign or going back to the drawing board for a bunch of it. That's the only thing that makes sense to me.

I deal with a good number of EPCM firms. They are constantly redesigning and rejigging plans for projects, sometimes at the clients request, or sometimes their own engineers go back to the drawing board. So when engineering groups redesign, they go back to suppliers for new prices/timelines and it slows the whole process down. No doubt Wardop has been sourcing different pricing from suppliers for CUU and there are many places the ball can get dropped along the way.

This is the best I can make sense of these delays ... or there are 'informal' talks going on and things have been on hold for some reason. We will have SOME news in September, any way about it. May it be what we've all been waiting for.

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