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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: Freeport-McMoRan cuts spending, production

I don't think generally companies are paying over $2/lb to pull copper out of the ground, but at a point the profit margin shrinks to the point that it's really not a great benefit to the company to be selling a resources that they know in the future they can sell for a great deal more. I think most informed people believe that the tide is going to turn in the relatively near future, and I hope that these clawbacks on production will contribute the that change. It's not dissimilar to an interest cut to spur spending. In any case, I think we're going to have a big copper deficit within the next two years and think those with strong hands will be very happy with the price of copper...and hopefully the price of cuu will follow or precede that shift.

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