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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: BFS Completion
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Dec 01, 2012 12:10PM

They can't be working on the actual BFS. Them doing reviews seems absurd.

I agree that we're not reviewing the BFS, as in still working on writing it, but I think we're going over (reviewing) the final version right now ... I don't think we're reviewing with Moose Mountain, Merit, Tetra Tech, or Matt Bender anymore ... we're at the review/discussion stage with Teck and probably have been for a month or so now. Quite possible we're in the thick of negotiations too. I'm sure the mine plan and feasibility has been geared to Teck's preferences in terms of technology and operations. However, they may have had further questions about the mine plane, our environmental plan, metallurgical testing and how the ore characteristics will affect production, whatever ... the NTL is the last of our worries as that is well on its way, and will get done.

We're still largely in the dark, but everything is pointing towards negotiations/discussions with Teck. If I were Elmer, I'd be happy to take 4-8 weeks to answer all Teck's questions methodically, if they have questions, and get the best value here. I don't think Teck taking numbers of months to review the pre-BFS and then a few weeks or month to view the final product is too long. Just don't know where we are at in that process. Still hoping for Xmas ...

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