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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: Teck Investor Meeting Slide Presentation Nov 2nd
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Galore has a 230 ktpa potential.  50% of that for Teck is 115 ktpa.

Schaft Creek has a 161 ktpa potential.  75% to 100% of that for Teck is 121 to 161 kpta.

Both projects have very similar expected C1 cost, with SC slightly better.

50% of Galore's capex is probably similar to 100% of SC.

Therefore, when looking at slide 64, I feel that the graph is very missleading, as it does not consider Teck's ownership for each project.  

75% to 100% of SC would most likely create more value for Teck than 50% of Galore.  We deserve to be in the medium term options or Galore should be downgraded. 

Politics, politics, politics!

IMO.

MoneyK

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