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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: 2012 plans
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Apr 21, 2012 12:01AM

I agree with you here Chunky. Time to move it all along to the next phase.

IMO, I think that CUU and Teck had concocted a plan long ago to get this deal wrapped up by March 31 and move on to a new JV with CUU2 exploring the peripheral territories (which have now been secured). It was a foregone conclusion. Teck recognized Elmer & co. as the best in the business and were impressed by their expertise and capability to achieve results. Tech was not about to let a prime opportunity slip through its grasp knowing the massive potential on the outlying areas.

The Tetra Tech 'bump' was an unforseen circumstance that threw a temporary wrench in the works - much to everyone's frustration. 2012 drilling would have occurred regardless with Elmer at the helm, except it would have gone forward under CUU2 following a payout to CUU shareholders.

I truly believe that after a generous 'reward' to shareholders, CUU and Teck will form a new strong and long-lasting relationship (potentially with other additional partners) that will be of great benefit to current longs who want another ride on the merry-go-round.

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