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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: Liard and Option money
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Dec 23, 2012 03:09PM
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Dec 23, 2012 04:20PM

Good summary. We don't have to accept a lowball offer from Teck. We can just say no before 60 days, force a JV and then decide to spend more money drilling and proving up more of the district and moving the inferred up. At the end of the day, we can just say no to the current value and prove it up further. It means a longer potential wait, but if Teck doesn't want that they may indeed end up paying higher for the inferred now. Take that risk instead of the risk of us proving it up later.

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Dec 23, 2012 04:55PM
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