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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: Optimization studies

Who really knows - however I stick by my earlier forecast that Teck will be submitting a EA to the provincial and federal governments for a 'hopeful' approval before next federal election 2015.

I think they are more concerned with the next provincial election. I don't think there is a BC resource company in existence that isn't fearful of another NDP government. Someone was telling me recently that during the last NDP government no mines received environmental approval. When I talk to my friends in Alberta they always mention the pipeline and the NDP as a source of trouble.

I did the calculations before but I thought it worked out to about a year after they apply before they receive the permit. However, if they re-apply under the new rules whereby the province reviews it, they state there is one month for screening of the application and six months time limit to make a recommendation. Then I think the Minister has 45 days to approve it or not. Then, of course, they can suspend the application if they encounter a problem while they work on it.

Elmer and Teck have both met with the provincial environmental people and the federal. My hope is that before they submit the application they have a high degree of confidence that it will be approved.

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