Ha... you beat me to it Orcinus... I read gece1's post thinking it was a quote from the presentation.... but found it on the the Cuu home page... thanks.

"The feasibility study is expected to be completed in the 1st quarter of 2012. The feasibility study will include an updated geological model, resource estimate, reserve estimate, revised capital cost and operating costs estimates and other technical, socio-economic and financial aspects related to the feasibility study."

I think the statment means that the July 2011 RE is the "updated" resource estimate in the BFS; it is new since the PFS in 2008. The other elements (geo model etc) will definitely be new. Elmer is on record with some folks here saying that the RE won't be updated until some time after the BFS.