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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: My ROFO proposition
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Here's a quick calculation if Teck would elect proceed with option 1 and copper goes to $6 US once SC is up and running.

  • 1 payment of 548M US in 2022
  • milesone payments 40M CAD per the SCJV
  • minimum of 100M US per year (First 5 Full Years)

If copper goes to $10 US, we are talking about 200M US per year (First 5 Full Years)

Seems like a fair way to split the risk remaining!

MoneyK

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