Hard to really get happy about this NR.

BFS? While I am unhappy about the delay, i am somewhat happy that there is not another deadline since they don't matter any more and merely help the traders gauge how much time they have to flip stock before a halt. Theorectically, a halt could now come nearly any time.

The peer review is a good thing. This BFS has to be beyond reproach. Elmer is buying insurance that the document will be boilerplate. Any critic of the BFS will be up against the hard work of Tetra Teck, Mr Grey/Moose Mountain, abd now Merit as well as the internal CUU review with Mr Matt Bender. Pretty tough to say all 4 (plus Elmer) missed any problems or any opportunities to sharpen the pencil on the project.

I am optimistic that the amount of resources being deployed on the BFS will get the best product in the shortest amount of time.

Mr. Elmer Stewart stated " It is evident the company is at the final stages of completing this important report, that being said, the company will diligently perform its internal review process to ensure completeness and accuracy and that the final report appropriately reflects the economic potential of the Schaft Creek resource. The completion of this Feasibility Study is the most significant event to occur in the Company in its eight year history.".

Mira? I can't say Elmer and Jason didn't give us some clues that it would be underwhelming by their reported downplaying of the product. We know more about our mineralization but didn't find more (we already had a good idea about potential for Paramount extension potenital and Discovery) and might have indeed lost some potential. The term "District" is noticeably abscent from this NR for such a wide ranging exploration product as Mira. The term "Schaft Creek Mineral Trend" is not so prominent in this NR either.

The Mira release now makes our 2012 drill plan a bit more sensible. We sampled (drilled) a good deal (~ 2.2km) of the 3.5 kms we discuss in this NR. I figure about 1 km of the 3.5 kms stetches into the Paget/Grieg-Kreft claims (not Sched A but in 2km Area of Interest) we bought spring 2011. Our 2012 drilling stayed within the Sched A lands.

I find it a bit puzzling that Mira didn't find anything else anywhere on our vast area. What happened to the target in the GK zone? And the Aster targets to the SW and also between GK & ES zones?

I found it noteworthy that Elmer said (@6:10) at the Sept 12, 2012 presentation that the property additions after April 2nd were in response to Teck staking Teckland. At the time, the NR on those claim purchases by CUU said that they were capturing the Schaft Creek Mineralized Trend. I think Elmer gave a subtle hint in the presentation that not much would be found in the new 2012 claims. he did also say, seperately (@5:15) that they have a multi-deposit project and that simiar systems can have 6-8-10-12 deposits of varying quality (I'm paraphrasing).

The biggish dump of shares this morning was not surprising. I did think we rebounded rather well price wise. The rebound volume is not terribly great though. At least the selling was very constrained. Another shakeout is very possible today and tomorrow.

We should be getting financials and a MD&A by the weekend.

JMHO.

A link is in the agoracom "link library" to the 2012 presentation and audio.