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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: Red Chris
2
Dec 21, 2012 12:13AM

This makes a lot of sense actually. Red Chris probably could use someone to share the financing load and a major electronics company needs to ensure steady access to metals. I think Samsung has a few copper smelters too - 3 in Kazahkstan alone.

http://maps.google.ca/maps?client=safari&rls=en&oe=UTF-8&redir_esc=&q=http://tin.er.usgs.gov/copper/output/copper-fLD.kml&um=1&ie=UTF-8&source=websearch

Mitsubishi has invested in numbers of projects too and they have their own smelters (e.g. they own 25% of CUM, arranged most of the financing and take 100% of the concentrate at market prices).

The good news for CUU in all this that is we won't have to finance our mine. Teck will take it and finance it (and/or whoever else we might sell it too). And there will be no problem finding buyers for the concentrate. Stewart Terminal is still talking of upgrading - but won't know until the New Year apparently. They're going to be busy up there.

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Dec 21, 2012 07:26AM
3
Dec 21, 2012 08:22AM

Dec 21, 2012 01:04PM
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