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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 news for us maybe. I know its not about Copper Fox...but then is it?

If we still own 25% of everything, Then how can Teck tranfer the port and Teck land with Galore Creek? OR do we now own part of Galore Creek with Teck and Nova Gold?

We own about 25% of Schaft Creek.

If the contract with the port was transferred to Galore Creek, then we don't have any ownership of that anymore. This should be verified, but it seems that Teck paid us for the contract at the Port of Stewart when the JV was announced and I would assume they could have transferred it to GC.

Teck staked all those claims between Galore Creek and Schaft Creek about two years ago. All of those claims were transferred to Galore Creek except the ones that fell within the contract with Copper Fox (so that was the ones within the two-mile radius of SC I think.)

The remaining claims that Teck staked, and the Copper Fox claims are still together and we own 25% of them.

In no way do we own any part of Galore Creek or Nova Gold.

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Jan 27, 2014 01:15PM
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