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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

I did call the office and I think it was May 2015 before drilling could begin. Nobody can confirm there will be drilling this year until Teck comes up with the 2015 work plan for Schaft Creek. However, if they need more metallurgical samples to work with it is apparently better to have fresh cores. The old cores are about 40 years old and the minerals would have oxidized to some extent, and I guess the results would not be accurate. They could do the tests on the old cores though, and that must be why they didn't state there would be more drilling until they are certain.

I don't know if it is meant to move the waste-not into the reserves category. I get the feeling that there is less concern about that because they all know it is there. I thought this work had to do with Teck re-vamping the pit plan, but that is really just an assumption I'm making.

I too am really disappointed with this and what it implies about the timing.

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