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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: Teck's 2 Options 1. Buyout at 100% or 2. JV

Do you know any other copper acquistions at 8-10 cents? That would be helpful if you could show these. The $36 cents may be high but I have excluded the other metals in the crude calcuation to be conservative. It would be good to see other copper values used in other purchases if you know one we could use.

An alternative way would be to to calculate the copper equivalent of all metals (in excess of the feasibility figure) but this would give a much higher valuation, probably too high inj my view.

Cheers

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