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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: Why did we even form a JV with TECK?

In reading posts for two years you likely have read numerous times that the Salazar agreement would likely not hold up in court.

Management did a great job in positioning us for a buyout which has been the plan from day one and has never been a secret, in fact they mention it almost everytime anyone talks to them, their plan has not been ensuing in a legal battle with Teck who has been nothing but a fair partner in the entire venture, the 'plan' is to sell.

In my opinion (as this I think is still a place to voice that I hope) basing a buyout price on the feasibility study is an uninformed stance. It is very clear for anyone who has poured over it and the excellent analysis posts here in fact that followed it up, that the FS did exactly what our partner wanted it it to do, which has everything to do with optics for Teck our Partner.

Are we going to be sold for 2$? No I don't think so. Are we going to be sold for $5.67? As much as I like that number no I don't think so. Somewhere in between is my guess. Are we going to be sold in your timeframe? No I don't think so. In my timeframe?...

Yes I guarantee it.

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Mar 20, 2014 11:30AM
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