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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: Re: The Delay
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Mar 23, 2012 11:25AM
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Mar 23, 2012 01:20PM
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Mar 23, 2012 02:15PM
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Mar 23, 2012 03:20PM

Here are my thoughts about the delay:

* I think they knew there was a possibility of a delay on the Feasibility for quite awhile but were pushing hard to get it done.

* At the same time they were working on the revised Resource Estimate that will increase value significantly.

* At the same time they were attempting to get the silver included.

* Bearing in mind if the Feasibility were produced using the 2010 numbers it would be out-of-date even as it was released.

Maybe the Resource Estimate was starting to show much better numbers and it became obvious that the whole project would be significantly better if the new data from the new Resource Estimate (RE3) were included in the Feasibility and so the decision was taken to just take those extra months. They pulled in Jim Gray, who they have worked with in the past and who was familiar with the project and the historical data. They now have a team together who can complete the Resource Estimate and incorporate it into the Feasibility properly.

At the end of the day, (or month, or year,) we will have a much better project and more accurate project. . . and more valuable project.

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Mar 23, 2012 06:33PM
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MES
Mar 23, 2012 10:04PM
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Mar 24, 2012 12:11PM
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Mar 24, 2012 12:37PM

Mar 24, 2012 02:00PM

Mar 24, 2012 02:46PM
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