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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: Drill program: Opinions

In my mind that's the biggest danger we face. Namely that CUU management are overly aggressive in their price expectations and consequently drive Teck from the table. It's quite possible to imagine a scenario in which CUU decides that rather than selling 25% of the resource why not sell 100%. In the first instance we would get 4 times our expenditures plus a value for our 25%. In the second we would get an amount for 100%. If we get more than approx. $400 million for the 75% we would be ahead. Problem it might involve more drilling and more negotiations which could drag on for more than a year. Don't know if this is likely or am I dreaming. (nightmare-depends if you can wait or not).

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