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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: Email to Elmer #2

"Please see comments below

Regards

Elmer"

"Dear Mr. Stewart,

once again, thank you for your time to answer my questions and helped me to get back some of confidence / get rid of some concerns. Anyway, I would be very grateful if, during the day, you can find a few moments to answer a few more questions.


1) The NR disclaimer, regarding the risk associated with not getting an NTL connection, no longer appears in the NR disclaimers. Does that mean that the BC Hydro study (expected by May 2014) has been completed and our spot in the queue is secured?
(the NR disclaimer is typical cautionary language used in public disclosure prepared by our legal counsel)

2) How long of a wait do you expect before Teck announces the findings of their optimization?
(the results are expected relatively soon. Disclosure requirements may require that these observations cannot be released to the public. Best to wait and if possible the results would be made public)

3) On an order of magnitude, how much larger should the throughput become, in your opinion?
(Difficult question, that depends on many different factors balanced against cost. This will all be included in trade off studies performed by the joint venture)

4) How long will BC hydro wait for a deposit re. their study to provide whatever power we require?
(The BC Hydro study will depend on the scope of the project which has to be finalized. BC Hydro will be happy to wait until this is completed to make sure that they complete the study properly. Keep in mind there is only one much smaller project ahead of Schaft Creek and the expected combined capacity at BobQuin should be in the order of475-500Kv)"


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Apr 11, 2014 04:54PM
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