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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: Good Golly - No Moly!
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Sep 06, 2012 01:18PM
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Sep 06, 2012 01:34PM

Are you suggesting that the 120 day clock won't start ticking until the BFS is filed on Sedar 45 days later?

I was suggesting that but I've changed my mind. I just called the office to confirm this because I thought I was told that the numbers would be released first in a news release and then the final document would follow within that 45 day period. (I remember a very old conversation with Elmer in which he was speaking about those 45 days.) However I did just call and they said they were expecting the full document by the end of September.

(Personally, I'm just slightly hesitant on this still until Elmer confirms it.)

I don't think there are 120 days afterwards though. Clause 15.1 of the Agreement states that they have to enter into a JV agreement no later than 60 days after the delivery of a feasibility notice. (This agreement will replace the current Agreement so it couldn't have already been made.) I believe they have only 60 days, therefore, after the feasibility is accepted by Teck.


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