We earn Teck's shares of Liard upon the release of Feasibility and we have bought Liard shares this past year.

"upon completion of a positive feasibility study Copper Fox would own about 80% of Liard
(Teck's 78% and the additional shares acquired this year by CUU)" M. Smith

Older, before we purchased Liard shares this year: "Upon completion of the feasibility Study Copper Fox will have a 100% working interest in Schaft Creek and an overall
93.4 interest. The remaining 6.6% interest is held as a Net Profits
Interest by Liard Copper Mines Ltd. We calculate this NPI does not
participate in the project revenue until years 10/11 after production.
Thus, should Teck elect for a 75% earn back, then for the first 10 years
revenue is split 75%/25% between Teck and Copper Fox and subsequently
70.5 Teck and 23.35% Copper Fox." M. Smith