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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: Waste Rock

No, nothing really to worry about. It's just a few points against management in my opinion. This is essentially what I see happening:

May 2012 - Tetra Tech to Copper Fox: "You should drill those two extra holes to help your feasibility numbers look better"

Sept 2012 - Copper Fox: "We're done drilling and will be sending our drills home early"

Dec 2012 - Copper Fox: "Our feasibility results are bad but will look a lot better if we upgrade the waste rock"

Jan 2013 - Copper Fox: "We're going to upgrade the waste rock"

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