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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: A little more time please ...

Which is precisely what Elmer said to me twice during our conversation. His Board is not mine savvy (something like that anyway) whereas he is. So part of his job is to make sure that the professionals put our best possible position forward and then he will come up with his thoughts and recommendations so the Board can discuss "a fair and reasonable price" based on all the information. He sressed fair and reasonable a couple of times. So he doesn't and he doesn't want the Board either, to waste time and get distracted by numbers which won't be the final ones, plus or minus 2%. The big unknown has always been what is a reasonable price to be added to the BFS fair and reasonable price, for the 2 km lands and the 100% owned lands (ie: Antamina) and the fact that Schaft is still open at depth and in various directions. I really don't see how the accountants in the group will be able to do much better than Elmer's recommendations. I do remember Mike saying they would probably have an independent consultant review any offer -did we think BMO?. I suspect part of a "fair and reasonable" offer will be the after-tax effect of any transaction where we will give up a higher price per share for reduced tax consequences and more flexibility (share deal rather than asset sale and partial share deal/partial cash offer). Those of us with just TFSA investments may not like this as much. There will be many factors to consider, with a big one being the ability to move on to CUU2 and beyond while the world economy dithers. It will be a fascinating process to watch unfold. But as someone else here said, we have a very competent Board representing our interests and everyone involved has skin in the game with lots to win or lose if we don't get a "fair and reasonable price". When it's all over, first dibs on the book rights?

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