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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: las bambas size

They are comparing Fort Hills to a low-quartile copper mine using these figures:

Copper: LME Price $3.25/lb, cash margin $2, Cash costs $1.25, 62% margin

Bitumen: netback $60/bbl, cash margin $35, cash costs $25, 58% margin

To elaborate on this point, our figures for SC are:

LME Price $3.25/lb, cash margin $2.10, cash costs $1.15, 65% margin

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