Going below 1200?? This is going to hurt CUU's FS #'s very much.

It's not about the Feasibility. Look at Highlland Valley (very profitable) low grade copper and they just have copper and moly, no gold and silver credits. Brand new equipment that will be already be paid for once used for Schaft Creek.

http://www.teck.com/Generic.aspx?PAGE=Teck+Site%2fDiversified+Mining+Pages%2fCopper+Pages%2fHighland+Valley+Copper+Pages%2fProduction&portalName=tc

When Teck takes this on it will be a whole new ball game. Our feasibility was used to trigger the discussions.

Teck will use their own cost sheet (revise capex and materials used for it, their own equipment), they'll upgrade the waste, improve receovery grades, drill up the other side ofthe Paramount.

Our Feasibilitty is 130 tpd, their Feasibility will probably be 180-220 tpd.... Not the same payback at all etc,,,,

This deal is about having Teck back in at 75%, finance us, pay 87 million x 4, and we sell to Sumitomo, Glencore, Mitsubishi or whoever.

We currently have the same NSR as Cobre Panama

http://www.bloomberg.com/news/2013-06-20/first-quantum-seeks-lower-costs-at-quicker-cobre-panama-project.html

First Quantum Seeks Lower Costs at Quicker Cobre Panama Project

First Quantum Minerals Ltd. (FM), a Vancouver-based copper producer, intends to complete its Cobre Panama copper project faster than first planned and at lower cost, according to the company’s operations director.

“There will be a number of significant changes,” Matt Pascall said today in an interview in Lusaka, the capital ofZambia. “I’m sure in the end it will be done more quickly than it would have been and also at a lower cost.”