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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: Pretty good conversation today

Just some things I am wondering about?

I like Canada Grant being grumpy that nothing is happening at site. Has anyone asked CUU why nothing is happening? I believe it is becasue CUU is waiting for Teck to make their decision (in order to see who is paying for the work going forward).

If Teck is backing in did they budget for 2013 exploration at Schaft Creek? It isn't like Teck just drops millions of dollars on an exploration project at the drop of a hat. Their budgets need to be internally approved I would suppose and this process would happen months in advance. So could one problem be that Teck doesn't have an exploration budget for Schaft Creek?

Then I wonder about the corporate re-org that Teck just went through. Dale Andres and his replacement both are well aware of the Schaft so I have trouble seeing this causing a delay but it could be a consideration.

What is Copper Fox doing in advancing the project. They are still doing baseline information for the EA, probably doing the transportation survey (I know someone is doing something as there are trip meters on highway 37 but don't know if this is Copper Fox or someone else) and I believe the holes have been spotted for the 2013 drill program.

Speaking about the EA could Teck want CUU to submit the application before they back in? Could that be leading to a delay.

Or it could be that Teck is grappling with Schaft Creek in this market trying to decide to take the plunge or not. It is a juicy piece of fruit but it is hanging higher in the tree then maybe they are comfortable with.

I am just holding until the end now one way or another.

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