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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: E-mail from Elmer
Next JV management meeting with Teck is just a week away. They should be discussing the drill results, incorporate them into what they have from the BFS and begin to formulate plans for 2014 drilling program. I am hopeful this will be a massive drilling plan but they will have to work with what Teck allocates for funding. Of course this will need to go through the necessary approval process with Teck. I don't think we will hear about the drilling plan until after the next quarterly meeting about late March or April. If they announce a large drilling campaign this year I think that will be telling that Teck is very excited about this project and wants to progress more quickly with a very large operation. If it is a small or moderate program then they are taking it slower. Of course they could only need to poke a few strategic holes to confirm what they need to know to advance the project. Or does the 2013 drilling give them enough info to advance the project now? I find this a bit interesting. "8) Do you have any idea on when the EA will be submitted or what is its status at this time? Is this now solely in TECK's hands and we have no say over it? (as a JV partner we have a say in what happens at Schaft Creek. The EA work will be used to permit the project. Normally a project is permitted at a larger scale than the recommended daily throughput in order to allow expansion at a later date, should expansion be warranted. Amending an existing permit only opens the door to objections at that time.)" Is Elmer's answer here some foreshadowing that they will be going for permitting a larger operation than outlined in the BFS? With the large startup capex involved, I think they would go with a startup size as outlined in the BFS and then do an expansion further down the road. Lots of questions. Look forward to answers.
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