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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: Teck Reserves
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Dec 07, 2014 03:31PM
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Dec 07, 2014 08:52PM
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Dec 07, 2014 09:12PM
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Dec 07, 2014 10:00PM

There are only two things coming in the rest of the year, that I'm aware of, that might be interesting.

One is the Van Dyke Resource Estimate which I think is proceeding from these last test results. Although it is tentatively due about mid-December nobody seems to want to put that in writing anymore.

Second, I am hoping we get word on the JV 2015 work plan. My understanding is that Teck has been setting their overall budget for next year and once that is done we'll get to see what has been approved. This past year I was pleased there was no drilling because I thought that meant we left the exploration stage, but now they need more samples. I hope there is something in their plans that points towards early works projects rather than exploration.

I don't quite see how the annual reserve report will get updated until they leave the exploration phase and at that point they have to make a formal announcement and pay us $20 million. It seems somehow tactical to delay that moment until they are ready.

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Dec 07, 2014 11:08PM
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Dec 08, 2014 01:49PM
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