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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: Comparable
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Nov 01, 2013 02:24PM
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Nov 01, 2013 02:52PM
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Nov 01, 2013 03:01PM

That comparable is stomach churning, Prospekt, and is a perfect example of how the tide turns.

Yup. The trouble is these projects are so complicated in their differences that it is hard to tweeze out the comparable values. I tried last night but got all tripped up on the terminology and math.

One thing I did think though, is that the deal we got with Teck looks better under these circumstances. It's a harsh world out there.

I think the biggest benefit we're going to have is if we can extend the mine life. To do that we need to show a strong possibility of a district and maybe that the pit can be extended to the east through the mountain.

In terms of the drill results I am not sure how we will even know if they are good. It's the pit slope stability drills that might actually be the most important ones. The other drill results should be more-or-less what we expect, but we need to know they can mine deeper and to the east. Unless they spell it out for us, I'm not even sure we will recognize it.

12
Nov 01, 2013 10:58PM
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T2T
Nov 02, 2013 12:50AM
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