The Liard shares are subject to the earn back. when, or if, the BFS is presented to them CUU is deemed to have earned the Liard holding, 78%, if they back in for 75% they also get 75% of the Liard shares back, 58.5%.CUU keeps 19.5% and as we already hold approx. 1.9% we will hold a grand total of 21.4%..

The Liard shares = 30% of the net profits of the mine, that's after all development costs and expenses have been recovered, that means our share would be, 30% x 21.4% = 6.42% of the total profits of the mine.

If we add that to the approx. 23.5% ownership we would have after the TCK back in we would have, 23.5 + 6.42 = nearly 30% of the profits of the mine after payout...hope this helps..chunky