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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: From PDAC

Thank Chappy for sharing your well reasoned numbers. Both scenarios you've outlined in detail (2 separate messages) are very plausible. There are many wild cards to me with Schaft Creek, but what most interests me at this point is the high grade in the Paramount Zone because I think this is what will make the most difference for the payback time and upping the 'proven' and/or 'indicated' categories with better grades. I think the exploration potential will be heavily discounted in the buyout, because it is unproven 'potential' marked by a big 'maybe,' but higher grades are key. Looking forward to the new pit design as that will be telling re: where/how is the quickest payback scenario.

Don't like the slipping SP but woke up this morning thinking about how we've already booked the concentrate storage at the port facilities ... this thing is going to be a mine in the next 5 years!!

Patience to all in trying markets.

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