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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: News! The $1.65 Million question is why?

Funny how the last person who called the office felt so warm and fuzzy after the call? I wonder how he feels now?

Not sure I felt "warm and fuzzy" but I did appreciate his honesty and perspective that dilution was not something he wants to do...unless there is purpose behind it.

To be honest, I left he conversation feeling like the door was open to dilution (he reminded me we haven't had to dilute since 2012 and that is very unlike others in this market) - but if it happens, it will be purposeful. I guess I can only trust that will be the case, and so like Prospekt has suggested, I, too, will reserve judgement until this plays out a bit. I am not speculating at all...I have no idea what is on the horizon, but he was very clear with me that if we need to dilute, it isn't just to raise cash for the heck of it, it is to accomplish something and move forward.

The timing is peculiar, especially with hope that Jan meetings with Teck will result in a possible production decision if optimization studies are complete. Feels like a lump of coal for Christmas, but I would suggest we wait and see...

Merry Christmas! Enjoy your families and loved ones!

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