It's not clear why 5 holes were drilled unless the drill sequence had hole 444 as the third hole.

I wondered if they were drilling to see if the LaCasse zone went as far as the Paramount zone. They could have been testing the outer limits and come up mostly empty. It's not really clear what results they were looking for. I don't think we know where they drilled yet, do we?

Teck is not showing their cards and CUU has no leverage in the JV agreement.

I think we've had this discussion before (as we have had most discussions) but we do have some leverage in the FROO. Once Teck completes the optimizations we can go for a third party valuation and then present a fair value FROO.

This gives us some leverage on forcing Teck's hand if they intend to buy us out. If Teck turns down our offer then we can go shop the project around.

Also, once we have the fair value established post-optimizations we could also shop the JV around. That might put some pressure on Teck.

Ultimately Teck is likely going to find a partner to mine SC and it doesn't matter whether we find the partner, or they choose to buy us out and then find that partner. Teck knows what is coming after they produce the optimization study.

Teck announces something about their intentions with SC by next spring then CUU will have to consider monetizing the resource sometime next year just to stay in business.

They always have VD and SB. VD is about to release the PEA and that will then be shopped around to local Majors. Granted it is not a good time, but you never know, there might be some interest in a low-cost project from those who have set-ups nearby already.

As well SB could attract a JV partner since it had a good prospective Titan survey.

I agree that while EE might give us funds, it won't be without dilution. I'm still hoping that we can squeak through into 2016 and avoid dilution by a spinoff if we're desperate (if Teck applies for the EA and gets it quickly then we could likely spinoff the other projects.)

Somebody on BNN the other day said he expected $4 copper by 2018. That is the optimistic end of the guesses but everybody expects it to go up sharply within about five years at the most.