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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: Buyout /Production Decision Negotiations Folks

It doesn't take 4 years to do an update of the RE nor does it depend on cash flow from Fort Hills or commodity prices. We have many years before a production decision will be made based on the number of steps required. First you need the RE, then a revised FS, then apply for permits and port access and transmission line access etc. Then you're in a position to make a production decision once the project has been sufficiently de-risked to support a muli-billion dollar sanction. All of which we had at one time. Do you have an explanation why we now have none of the above? My expectation is a sale of the SC asset will occur and I've averaged down my share price to protect against a fire sale. The remodeling was promised for Q4 2016 and now it's Q4 2017 but that's really a guess. Maybe it's because EE is holding out and Teck is applying pressure by stalling, we don't know. I do know that there's nothing normal or acceptable about what's happened to SC. 

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