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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: Capex, construction time & payback is key

You are right in terms of variation per point, but based on today's environment, exchange rate will have the biggest impact, followed by capex and opex.  Copper & gold numbers, taken seperately, will not create a big variation compared to 2013 as they will use the long terms consensus price (around $3.10 for copper vs. $3.25 and around $1300 for gold vs. $1445).  If this drags longer, they might be able to increase the gold price in a near future, but even if they use $1600, the change in valuation would still be small compared to the other parameters.

MoneyK

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