Teck has first right of refusal here, they elect what to buy regardless of what we have to say, or can do about it.....and I suspect they will take 75% of our working interest for the bargain price of $260ish million dollars. We can not stop the the back in if they choose to to take the 75%, and it will leave us with 25%. Unless Teck chooses to back in for less, or even better not at all, as far as I am concerned we can split $260ish million dollars up as dividend and wait for the buyout.

Spin the number 6 around from $260ish million, and you get $290ish million

Copper Fox holds title and a 100% working interest in a contiguous 21,024.96 hectare (51,954 acre) property which includes the Schaft Creek deposit subject to a 3.5% Net Profits Interest held by Royal Gold, Inc., a 30% Net Proceeds Interest held by Liard Copper and an earn back option held by Teck Resources Limited ("Teck"). Copper Fox is currently earning a 78% interest in Liard from Teck. Teck's earn back option to acquire 20%, 40% or 75% of the Copper Fox interest in the Schaft Creek project is triggered upon completion of a positive feasibility study. Should Teck elect to exercise its option for 75% they are required to fund subsequent property expenditures up to a total of 400% of those incurred by Copper Fox ($72.9 million as of November 30, 2011) and arrange for project financing, including the Copper Fox portion. For full details of the option please refer to the Company's website www.copperfoxmetals.com.