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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: Fair value for 25% of SC

Agree that fair value will probably be in the $5-6 hundred million range with the drilling and meta studies. However I think YM is correct when he says that EE probably wants over a billion for his 25%. QB2 sold 25% for 1.2 billion if my memory is correct. It has a cap exp of over $5 billion. Ours is about half of that so that should add a lot of value to any analysis. However I think you are off the mark in thinking that will happen in months. Could be another 1-2 years to get to QB2 valuations; unless metals are through the roof long term.

I still think the plan is to enhance value to a point Teck can entice another major to pay between 1.5-2 billion for 50% and we reap the benefits of that deal. I think EE knows he is in for the long haul and that's why he wants to focus on the other assets to try and "enhance" the sp for us poor minority investors.

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