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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: Re: Where are they????????
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Jul 22, 2017 02:17PM
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Jul 22, 2017 02:37PM
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Jul 23, 2017 10:17AM
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Jul 23, 2017 08:48PM
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Jul 24, 2017 01:43PM

When CUU signed off on the JV they got some cash and future cash payment comittments, which must be included in any valuation of the SC asset. They gave up the acceptance of the FS numbers and the total $ size of the work committment. Teck will produce their own RE and CUU has an opportunity to review it. This is speculation on my part about what's happening but while it's in a draft form it's subject to revision and not material until the parties agree. The dilemma that CUU could face is a RE number less that what's in the FS and no way under the JV to change it unless their consultants come up with a compelling reason to convince Teck for a revision. Why would Elmer say we may need to update the RE without having a result from the resource modeling work that indicates a revision is necessary? And who would pay for the update, CUU or the JV? If there is no significant change from the FS then we can proceed with a sale.

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Jul 24, 2017 04:24PM
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Jul 24, 2017 09:43PM
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Jul 24, 2017 11:12PM
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