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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: What happened to the recoveries?
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One of the surprises for me was the change in recovery rates from 2008 to 2012. Back in 2008, we estimated the recovery rates based on previous metallurgical tests. We conducted more tests in early 2012 that came in slightly lower. For the BFS, our results were even lower than both earlier results. I'll be interested in seeing the feasibility document to see if there is an explanation for this. Does anyone have any theories?

2008 PFS 2012 Tests 2012 BFS
Copper 88.4% 89.0% 86.6%
Moly 71.3% 64.0% 58.8%
Gold 81.3% 73.0% 73.0%
Silver 70.7% 58.0% 48.3%
Copper Conc. 33.9% 31.5% 28.0%
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