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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: Its a no lose situation for Teck
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Jul 16, 2013 07:27PM

Sorry, I didnt intend to say Teck was evil, just that they negotiated the deal of the century. There is no way they will see anything but praise from their shareholders for this, where the Salazar backin they probably would have been called out on it.

I cant see how this deal will bankrupt us, but I think we did a lot more giving than taking in the deal. I wish the production opt out clause wasnt there for sure.

The big question for me is what happens if Teck decides not to go into production or if they want to hold off for a decade. The loss of the Liard shares and loss of any claim on ownership of the property if Teck walked under the Salazar aggreement gave me some peace of mind, but it is unknown where we sit now under that circumstance. Hopefully we never need to entertain these things, but I am one who looks at what could go wrong, not saying it will go wrong.

I hope this conference call is clear and consise and doesnt leave us trying to intrepet it after the fact. I would call in but I have to work tomorrow.

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T2T
Jul 17, 2013 03:00AM
6
T2T
Jul 17, 2013 05:37AM
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