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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: Claims sale & extension
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Mar 25, 2013 09:33PM
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Mar 25, 2013 10:12PM

I've been mulling these changes to Teckland hard. It dawned on me today that it makes sense for Teck and isn't necessarily bad for CUU.

The cuu claims are large and there is enough confirmed targets with the untapped zones and geo targets to keep anyone busy there for a while and plenty of ways for a majour or two majours to spend money. If Teck earns back CUU it will be the big daddy of the CUU claims and shouldering much of the finance effort to chew on all that it has bit off. Alternatively, Teck currently has a big partner with Galore and anyone who buys Nova's share will be big too. So there will be more corporate mass there to do whatever they they think needs to happen with Teckland cum Galoreland.

It wouldn't make sense in this respect for Teck to earn in large or buyout CuU AND bring all of Teckland with it only to wait for the other partner and do all the exploration and development of the Schaft project.

I hadn't considered the notion that the 2km Area of Interest was a two way street and that Teck would need to offer its claims to CUU under that clause in the Agreement. Luckily I had a chat with Prospekt and got educated on that. She first spotted the Teckland changes. Those green claims, still owned by Teck, very neatly fit into a 2km band aroudn those CUU claims. No more and no less except where they are definitely cut off altogether.

I suspect that the remaining portion of Teckland within the thick robins' egg (not coloured) will be left to go forfeit but they still have a week to renew them. And there is that one area that is well within 2km of CuU land so if Teck let's it go it would have to be with CUU's consent

jmho

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