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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

Teck is, despite the possible government-imposed restriction, a takeover target. What does this mean for us? Kinte already indicated this earlier. It's interesting for Teck to communicate the met-data because it is expected this will increase their market value. Buying out CF 25%SC also creates added value. However, Teck's strategy is unpredictable. Suppose Teck is taken over before our 25%SC is bought out, the risk and my fear is, after the takeover of Teck with the new owner, we will have to wait a very long time for the final buyout of our 25%SC. I sincerely hope Elmer is currently doing his utmost to have the sale of our 25%SC take place as soon as possible, at least before a possible sale of Teck (if that's the case). But after all these years of waiting, waiting and more waiting, a low SP and no asset sold, I have little confidence Elmer or anyone else from the BOD is able to exert any influence on Teck's strategy. I therefore see a takeover of Teck as a risk. I'm curious to hear your thoughts on this.

Ffoxxie

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