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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: Fort Hills to Continue

I see it as good news. Fort Hills will provide cash flow for Teck starting in 2018 to fund other projects. Large oil sands projects were cancelled in the past due to significant cost overruns during the boom cycle and the same thing happened to Teck at Galore Creek. They will never get a better price on labour and materials than now during the bust cycle. SC needs the optimization completed, regulatory approval, and improving copper and/or gold fundamentals before a production decision will be made. We'll see if they have made any progress from the JV meeting news.

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