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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: Smaller Mine

Here is an example of what Calvin and I have been talking about in terms of a smaller defined project from the optimization studies. It is an unrelated project to ours but it appears to me they've taken the same steps to move their project towards production. I could definitely see this coming for Schaft Creek. As you can see they state that it preserves the growth potential.

"The 2014 Feasibility Update reflects a project with lower capital costs resulting in enhanced projected investment returns notwithstanding the lower annual production. Additionally, this operating profile preserves all the growth potential and is expected to allow the company to flow funds for project expansion out of cash flow.

Given the market’s current preference for smaller capital projects, this feasibility update is expected to allow the company to finalize project financing and plan construction start-up.”

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