My biggest concern for Schaft Creek is that the tight labour market will significantly increase the capital costs shown in the Feasibility. Take a look at how the capital costs of the 60,000tpd mine at Mount Milligan have jumped lately:

2009 - $915M

2011 - $1265M

2012 - $1450M

Nothing can sink the Schaft Creek project faster than a jump in capital costs. I'm really hoping that management can keep capital costs between $3.4B and $3.8B.

I would normally agree with you , Rabid Tiger...I just dont feel that most of the investors on AG have to worry about a tight labour market! Think about it...if Teck backed in tomorrow, and the following day we sold the remaining 25% / whatever% to another company, the labour market is a non issue. The only way it becomes an issue is when and if CUU mgmt decides to become miners. And just to give you a heads up...many on this board in the past have commented on Alberta and the oil patch having all the workers. The "oil patch" should be renamed the "gas patch". Now look at the price of gas...not too rosey! The medium term outlook does not look too good either. The free market will determine where the qualified labour goes! For those that know me I've been around for a few years and know that I work in oil and gas in Alberta...not blowing hot air!

Good luck and happy investing,

911