I'm not sure about others on the board here but I'm surprised we see a pop the first day AFTER eligibility of the tax free dividend. I think the insiders felt the same way so they exercised their options selling shares to get enough capital to exercise. The intrigue is that the pop happened after the exercise, which in hindsight they should have waited. I think the volume is sparking investors to jump back on a little (sort of like the train starting to leave analogy). Previous, these investors were going after the low hanging fruit.

IMO I think the next intriguing date is August 29 and shortly after. With the distribution occurring that day, I'm wondering if there will be a push because existing investors will have more gunpowder. In particular I'm wondering what the insiders will do w the money, EE included.

Cal

"Is it not a Tax Free disbursment (say in Trading account) as noted in the release ?"

The disbursement is a return of capital, which is not a taxable event. Instead, your ACB will be reduced by 2.75¢. for example, if you purchased CUU at 50¢, when you receive the disbursement, you technically purchased CUU at 47.25¢. It would reduce your original purchase price as though you had purchase the stock for less.

In other words, it's like a capital gain deferral for when you actually dispose of the shares. Hope this helps. Cal

IMHO, valuation of a mine cannot be just the pounds in the ground. What value are minerals that you can't access? IMO, pretty much nil. The NPV in the FS was conservative but even that should not be considered a floor for our share price.

From my perspective, probability should play a key on our worth. Let's just say for arguments sake that Schaft Creek is worth X dollars and because of this our proportionate share is $3/share (buyout price possibility). I know we can argue a plethora of different valuations but lets just assume. If we don't have any chance of producing Schaft, I would argue we would be worth close to nil (0% X $3/share). It appears the market is setting us at ~20% chance to get this mine into production (20% X $3/share) ~ 60¢, perhaps still pretty risky.

So now we sit at the same price as we did pre announcement of the JV. Can anybody correct me in that we arguably increased our chances of getting Schaft into production?

Buying CUU is still a bet, but IMO it is a safer bet today then two weeks ago. Our chances of getting Schaft to production is higher than ever. Power - done, Tahltan - done, Political issues - none, Road - completed, Financing - Teck to commit, Feasibility - conservative and positive. The sentiment seems to be regarding control and trust, whether Teck has enough incentive to advance Schaft. I haven't seen any evidence to the contrary other than they perhaps simply have the ability to delay.

My only worry is the driliing results - there appears to be confidence on this board that the East will provide strong results. I'm optimistic but I'm wondering where the confidence is coming from since we don't really have concrete data yet.

I'm interested to know why drilling has not occurred in the East zones. Is the terrain more difficult to access? Would initial stages of the mine occur in the West first so it would make sense to initially explore there? Perhaps there were budgetary reasons knowing we would want to go deeper but did not have enough money to best prove the area.

Clearly mining is not my background. I've always wondered if we know that chargeability is as good in these untapped areas, why wouldn't we want to explore them first? I recall that Vette mentioned that it was drill results that revealed this trend so this would make sense to me.

Calvin

"After this round of drilling on an Untested area, the scope and potential size will change completely (proof in hand) and so will the price tag."

If Teck wants our 25%, they have the bias not to show the potential size of Schaft before trying to buy out CUU. They don't want a bidding war. However, insiders would welcome a white knight if there is one to be had.

IMO, I believe Teck wants more proof before justifying to their shareholders buying out CUU. If the proof is in fact in the pudding, Teck should want to consumate a deal before releasing profound results. If results are not as favourable, then that's a different discussion altogether.

Calvin

For me, I've always been long this stock and will still continue to hold. Like some on this board are hoping, I'd love to see good drilling results and determining if a buyout is on the horizon. However if it takes more time in order to prove CUU's share worth, I will wait.

The purchase of the Arizona properties did not excite me but rather it intrigued me. While I thought that dealing with schaft creek should be the main focus, this purchase signals to me that CUU insiders were seeing the end game to schaft. CUU could have envisioned being bought out by Teck and part of the deal would be to spinout a NewCo. NewCo may have arranged some cash to invest in Arizona and old CUU shareholders would have a new stake in NewCo. Speculating, I would think that this would have happened if the buyout amount was satisfactory to the insiders but perhaps it was not.

I think there is an asking price out there but clearly this is not disclosed to us. Again speculating, I think Teck believes there is too much risk to pay CUU's asking price today but if or when they prove these resources, the risk will be reduced and Teck will make the final call to monetize CUU.

IMO - Calvin