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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: PP - depressing
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I will stop posting as I am no longer objective even though still very curious to see how this plays out and whether i should reinvest. Like most investors I was hoping for a BFS better or the same as the PFS. I was hoping for a definitive BFS that could lead to a construction decision and would force Teck, through the threat of other bidders, to back-in or buy us out. Instead we got a delayed BFS just over the required 8% that requires a lot of arm waving and weakly supported arguments to justify its valuation. I don't buy the conservative argument since management has little control over cost estimates done by independent consultants and while Teck imposed certain requirements none seem out of line with a standard FS. Besides $3.25/lb Cu (versus Galore's $2.60) doesn't strike me as conservative. If you read my previous posts you can see I tried to do the math like any sell side analyst would and the numbers don't add up at this point even if you include the inferred. I still think there is a lot of upside but it will take time that I don't feel many investors here have. This PP was the final straw and demonstrates weak corporate governance and lack of strategy. Anyways I will stop my rant and good luck I guess.
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