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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: Schaft Creek valuation at current metal prices

With zero improvements from Teck yet to be applied to the Scahft Creek project and zero updates to an official valuation from them in their 11 years as operator, a Schaft Creek valuation update based solely on current metal prices gives us:


CU:  $4.25 - $3.25 = $1.00 where each $0.25 increase in CU price increases NPV by $240 M US 
Equals an additional $960,000,000 US to be added to NPV

AU:  $2,600 - $1,500 = $900 where each $100 increase in AU price increases NPV by $80 M US
Equals an additional $880,000,000 US to be added to NPV

MO:  $30.7 - $10 = $20.7 where each dollar increase in MO price increases NPV by $40 M US
Equals an additional $830,000,000 US to be added to NPV

The 2012 (non-optimized project) NPV is $840,000,000.  Add the above NPV adjustments for current prices and you get an updated NPV of $3,510,000,000 US or $4,756,000,000 CAD  

If we used $4.50 CU like that other project just did, Schaft Creek's NPV moves to $5,067,000,000 CAD.

25% equals $1,267,000,000 CAD or $2.27 / CUU share.

Imagine how much more the project would be worth if Teck actually acted in good faith as an operator and publicized 11 years of their studies and optimizations.

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