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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: How much longer for the 2019 report
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Seems like the industry deems reasonable a sale around 70% of the NAV and possibly up to 100% during great market conditions (e.g. 2011).  We are currently not in optimal conditions to request 100%.

Assuming they can manage a way to bring Schaft Creeks NPV (8%) value up to 3.2B, that would translate in our 25% being valued at (800M x 70%) = 560M + 40M (two remaining payments), therefore 600M.

In my opinion, exploration potential will be handled with a 1-2% NSR.

Conclusion, 600M + 1-2% NSR is my guess.

MoneyK

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