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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: Teck takes massive write-down
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I finally reviewed the Teck document.

They use the price of $3 for their long-term pricing assumptions. They also use a US$1.25 exchange rate. If they use those same figures for the optimizations then we'll be lucky.

The $340M they wrote off on copper was for Carmen de Andacolla. I wondered if it was going to be for Galore Creek but no.

At least they are looking at ways to enhance the value of SC:

We continue to minimize expenditures on all other copper projects. Targeted studies continue at the Galore Creek, Schaft Creek and Mesaba projects as we further explore ways to enhance the value of these projects.

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