We have a lot of copper, but Gold is really what separates Schaft Creek from QB2.

Assuming QB2 produces 575Mlbs of copper per year, in today's environment, that means a big drop of revenues for Teck, because QB2 mostly only has copper.

For Schaft Creek, assuming 325Mlbs of copper and 205koz of Gold per year, the revenues when looking at today's picture would remain the same as when using the long term consensus prices.

Using the long term consensus prices:

• 325Mlbs x $3.15US x 1.3 (exchange rate) = 1.33B CAD
• 205kzo x $1300US x 1.3 (exchange rate) = 0.35B CAD
• For annual revenues of 1.68B CAD per year

Using today`s prices:

• 325Mlbs x $2.35US x 1.42 (exchange rate) = 1.1B CAD
• 205kzo x $1745US x 1.42 (exchange rate) = 0.51B CAD
• For annual revenues of 1.61B CAD per year

Schaft Creek will be a cash machine in all environments and Teck knows hit.  QB2 will generate a lot of money when copper goes up, but Schaft Creek is the type of asset that you want in your portefolio for much more stability long term.  With all the critics going on these days at Teck, I believe our asset looks better than ever!

MoneyK