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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: Spoke to Teck VP
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Oct 24, 2013 01:23PM
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Oct 24, 2013 08:34PM

I think there is a lot of misunderstanding of the Laird shares.There are 7 holders of the shares.Teck would have to deal with the 7 partners and would have to prove the project is not economical, which CF has already done and Teck is currently improving the economics of. It was clear to me mothballing it would be a serious problem for Teck.The gov wants mining projects, the Tahltans want this project.Teck needs copper, their other projects are on hold, this may not have the highest grades but when you look at all the factors together this is the best project they have on the books anywhere.Xstrata would not sell their Laird shares.

I am very confused by the underlined text above. If, in order for Teck to mothball the project, Teck has to prove to the 7 partners that "the project is not economical, which CF has already done..." why on earth would Teck now want to: "currently improving the economics of" ? Seems to contradict each other.

In addition, many of us have believed in the past, that Teck was working behind the scenes with CUU, instructing us what they wanted in the BFS, delays, keeping a low profile and under the radar etc. Of course, any such mention to Elmer had been refuted as AG Board rumors/speculation that were not to be believed. Yet, to say that "which CF has already done...", clearly sounds to me that we had satisfied a client's request/instruction. Unless, we are proud of our BFS's low numbers. and saying this proudly. But who knows. Could be taken with opposite meaning as "you won't believe the numbers".

My concern now is what will happen next? The new drilling results will proof what we already expect to be GREAT RESULTS! What will happen to CUU's reputation as explorers now that our numbers and Teck's would be so majorly different? Imagine other Juniors wondering why CUU did not complete drilling last year. We could have discovered what Teck just discovered. How could we have not suspected what a few more holes could have proven? etc. etc. We were penny-wise and literally lb, foolish. Would another major trust Elmer's geologist experience as dependable,timely and accurate? If not, unless Teck buys Arizona, our ass is grass.

I truly would like to have some faith and trust in management. I've got lots invested in CUU since 2006. But its such conflicting information that raises my antennaes and gets me concerned about my investment.

Not bashing, just explaining my confusion and why I'm concerned about my investment. I'd like to trust, yet afraod. I try not to read the Board or stop participating in the posts but once in a while I just have to share my thoughts and concerns because I know I'm not alone. Yet we can't sell because that littlee voice of still wanting to belief and trust and the reality of years wasted and gone by for big losses which is hard to stomach. It's like make or break time.


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Oct 25, 2013 12:48AM
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