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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: 3.90 Copper

I completely agree with JimmyJay. I have asked Elmer several times whether a certain copper price is a lower limit for sales. Elmer indicated several times that the copper price does not determine the sale of SC because they have no influence on it. If Teck still carries out activities in the “short term” that could have a significant impact on our value of SC, which is not expected, the BOD could decide to await the outcome of the activities. However, my expectation is that the (metallurgical) results of the SC2022 and SC2023 program will still provide significant improvements and value increases and, as soon as this data has been processed, SC will be sold. In addition, they desperately need the money from a sale to finance the further development of the other assets. In my opinion, carrying out a new PP is not an obvious choice.

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