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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: Buy-out Price

The BFS numbers are disappointing

It just depends on how you look at those numbers and who's looking at those numbers.

If you look at the numbers with inferred charged as waste rock, base case with no enhancement possibilities, 300 Mil tonnes of M&I excluded and another 400 million inferred excluded, with lower metal recoveries, using 8% (something a major won't be using once we get permits).

In reality it's all we needed to pass the Teck test and start the clock. Even Teck approved.

How does Teck look at this with the info they have (aerial, Titan, spectral, Mira)...How do the majors that have project in Peru, Mongolia, Argentina, Russia, Bolivia, the Democratic Republic, Papua New Guina etc...How do they look at the Feasibility numbers....

Or The majors that see the gap between supply and demand growing, looking 10-15 years away. Inflation 10-15 years from today, deposit scarcity 10-15 years from today and the competition for them...

This is what they see:

* Canada

* Inferred in pit can be upgarded with 10 holes

* Inferred and M&I outside pit can be mined later

* Increase metal recoveries

* Scale up to 180,000 tpd

* Mining firendly political jurisdiction

* Outlet for concentrates reserved (no more room left at Stewart Terminals)

* Power line

* Shorten development time

* Capex was maintained

* Significant expansion North, East, Depth (this is 1% of the property)

* EA and road permits on the way

* Great relationship with Gov and 1st Nations

* Other deposits (Discovery zone)

* Very very long potential mine life

* Teck fiancning CUU's share (800 million) to production

* Teck spending 360 million on project

* Time clause that could forced, if ruled by judge (risk for Teck)

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