OK folks, I'll share some information with the Board.

I e-mailed CUU via their contact us link on the website after looking at the latest maps. In summary I shared some of my concerns on the lack of updates, here's my sanitised version below:

: Dear Elmer
:
: I am sending this message based on the recent poor
: performance of the SP. I never thought we would be
: pressured down to a new 52 week low in the current
: recovering market.
:
: I've been a shareholder for nearly 3 years now and sadly
: got into this play with a high ACB, circa. $x.xx on almost
: xxx,xxx shares spread over various accounts. As you can
: imagine I'm deeply disappointed in how the stock has
: performed.
:
: I've not gave up hope, but rather than take up your
: valuable time with lots of written questions I'd
: appreciate a quick phone call. You can either call me on
: xxx xxx xxxx (cell) or on xxx xxx xxxx (home). I'm in St.
: John's, Newfoundland, so GMT -3.5 hrs.
:
: I can hold on for as long as it takes, but would
: appreciate some feedback on what kind of time frame we
: believe that Teck would now be taking to move this project
: forward.
:
: The lack of significant news is bleeding our day to day
: SP, but I'm not too concerned about that. What is more
: concerning is the lack of updates and promotion to
: potential and existing investors. I would like to see more
: information in the way of updated 3D chargeability models
: on the CUU website based on the latest 2013 drill results.
: I feel that the lack of news and updates is painfully
: causing even more uncertainty with shareholders like
: myself. With only the bullboards to provide conjecture and
: suppositions I feel that we are not being represented to
: the required level by our PR department.
:
: Yours sincerely

I then got a call from Elmer last night and had an informative conversation for the best part of an hour.

This was the first time that I had spoke with Elmer since the PFS conference call back in 2012.

In summary we are on track, the weather was poor on site in October due to rain and fog, that was what delayed the drilling programme and eventually cut it short. Helicopters can't fly in that kind of weather safely.

Expect a detailed mining plan to be developed in 2014 and Teck to make an announcement, they are most likely doing their work to make this project financially viable and presentable to their shareholders.

Remember that CUU have FROO, and may decide at any time to invoke this, however there are most likely other interested parties who would be better going into a joint venture with Teck, whose stock has also been hammered but are cash-rich. That is IMO the main reason that CUU is holding back on the FROO, that and the fact that they are busy with their other exploration plays.

I found Elmer very open and straight forward to discuss my concerns and the general mining sector and market conditions. I was left feeling OK with my investment albeit not what I had expected time-frame wise or potential SP wise. I'm not going to put forward my revised target SP, just that I expect to make a small profit in the SC play versus myACB and will most likely stay about with whatever we get for Desert Fox and the Van Dyke play. As for BXX I'll see where that one goes as well. Each to their own, but for me this is a high-risk play unless you can time it well and understand what is going on with the macro economics of the commodites market.

Look at how the US/CAD$ exchange rate impact our NPV, look at drills 401 and 435, look at what is going on with Teck's other mining plays in volatile countries, look at Teck's annual copper tonnage targets an dlong-term vision. Look at all these factors together and the fact that CUU isn't paying one red cent to see the NPV of SC grow and you'll hopefully see why I'll stay in this play.

I'm still long-term bullish on copper plays, just going into them with a wiser head from my CUU experience and understanding of how volatile and cyclical the commodities market can be.

I would encourage anyone with questions to contact Elmer directly, IMO he genuinely cares about us shareholders, after all he is one himself. If EE is happy enough with how things are going then so am I.

GLTA

Max