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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: Merit

Merit are essentially construction managers, independant of the engineering companies like AMEC, TT (Wardrop), Fluor etc.

I know a couple guys who work for them and they are all ex constructors IE: they all have field experience on the contractor side of the field work but have now switched to being managers for the owners best interest. We worked alongside them at CUM...

They are the best at managing these types of projects with no vested interest in not uncovering engineering screw ups and burying them so that the owner has no idea of the poor quality engineering they are paying for. Many owners have the engineering and onsite construction management as the same company and this results in no finger pointing in the case of screw ups.

They have a better pulse of what the construction costs are going to be than many of the engineering companies.

When one sees the fiasco that happened at Baja, one has to wonder where the construction managements was...yeah asleep at the wheel.

My feeling (based on communications with Elmer) is that he is double and triple checking the construction costs based on the last couple of mines built in BC.

Site Engineer Const Mgr

Copper Mtn - Hatch Merit

NewGold AMEC AMEC

Gibraltar Ausenco Ausenco

Mt Milligan AMEC Fluor AMEC Fluor

Red Chris AMEC AMEC

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