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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: What's our 25% of SC worth?
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EG,

For fun, I looked into the Newmont/Galore transaction ($275 US for 50%).

Per the 2011 FS, Galore had an after-tax NPV (7%) of $137 M CA using Base Case metal pricing of US$2.65/lb Cu, US$1,100/oz Au and US$18.50/oz Ag

I don't see how one could even use this transaction to compare with SC.  On the other hand, QB2 and SC are built on the same model, which is much easier to compare.

Also, you need to consider that Newmont will need to assume 50% of the capex one day.  That's currently 50% of 5.8B CAD (in 2011 dollars), where for our 25% of SC, that's all covered.

IMO.

MoneyK

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