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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: Stock Option---Question?
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Jul 10, 2013 03:53PM

I remember Elmer mentioned that drilling would cost a million a month.

Say we need it to drill to December. Say 6 months if we started in June with business as usual. $6 million total to run the drills.

$6 million at 65 cents. That's a 9 million shares dilution. That's roughly a 2% dilution on the outstanding shares.

I do agree that 2% isn't a whole lot on the outcome but RapidTiger is right that drilling now won't prove any economics.

From RapidTiger

"Drilling, an updated Resource Estimate, and an updated Feasibility are all required before the economics will improve... We should have a decision from Teck long before then so additional money spent on drilling is not a good idea at this point."

We should have a decision from Teck by then.

Liddy - Is it because you called so many times before? lol. I wasn't expecting a call back either but I was able to get one. Sharp662 pretty summed up my conversation.

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Jul 12, 2013 08:02AM
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